Focusrite (TUNE)

Sector:

Leisure Products

Index:

FTSE AIM 100

 385.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 595.00
  • 52 Week Low: 285.00
  • Currency: UK Pounds
  • Shares Issued: 59.21m
  • Volume: 13,655
  • Market Cap: £227.96m

Focusrite snaps up Sonnox for £9.1m

By Abigail Townsend

Date: Tuesday 20 Dec 2022

LONDON (ShareCast) - (Sharecast News) - AIM-listed audio products specialist Focusrite said on Tuesday that it has snapped up smaller rival Sonnox.
Focusrite, which supplies both professional and amateur musicians with hardware and software, will pay £9.1m in cash for Oxfordshire-based Sonnox, which designs audio processing software plug-ins for audio engineers.

Focusrite said the business, which is owned by founder and managing director Rod Densham, was a "well-established and acclaimed brand" which would complement its existing offerings in the recording space.

The deal will be funded through existing facilities with HSBC and NatWest, leaving the enlarged group with net debt of £13m post completion.

Tim Carroll, chief executive, said: "This is our first acquisition in the audio software market. Sonnox's products are globally recognised as best-in-class, making them a natural fit, and we are all excited about the opportunities and possibilities that lie ahead with the collective expertise of our combine sales and R&D teams."

Densham, who will continue to run the business along with all 16 of his staff, added: "Sonnox is in a strong financial position, expanding our customer base and consistently delivering profit. We believe that by joining Focusrite, with its scale, industry expertise and range of premium brands, we can continue to grow."

James Lockyer, analyst at Peel Hunt, said: "This is Focusrite's first audio software acquisition, diversifying its offering to include toolbox plug-ins and thus creating cross-sell opportunities.

"Rod Densham has built a formidable reputation, with eight of the ten best-selling albums of the century crediting Sonnox users in the role of engineer, producer, writer/co-writer or mixer running."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Focusrite Market Data

Currency UK Pounds
Share Price 385.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 595.00
52 Week Low 285.00
Volume 13,655
Shares Issued 59.21m
Market Cap £227.96m

Focusrite Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.1% below the market average26.1% below the market average26.1% below the market average26.1% below the market average26.1% below the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Price Trend
71.73% below the market average71.73% below the market average71.73% below the market average71.73% below the market average71.73% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Income
71.83% below the market average71.83% below the market average71.83% below the market average71.83% below the market average71.83% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
72.9% below the market average72.9% below the market average72.9% below the market average72.9% below the market average72.9% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Focusrite Dividends

  Latest Previous
  Interim Final
Ex-Div 09-May-24 28-Dec-23
Paid 10-Jun-24 31-Jan-24
Amount 2.10p 4.50p

Trades for 19-Jul-2024

Time Volume / Share Price
15:12 1 @ 390.00p
15:07 52 @ 384.90p
13:54 11 @ 380.00p
13:17 97 @ 384.90p
13:12 240 @ 380.00p

Focusrite Key Personnel

CEO Timothy Paul Carrol

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