Grenoble, France (September 12, 2005)–Over the weekend at IBC and PLASA, Digigram announced that a holding company created by its senior management–under the leadership of Digigram CEO Philippe Delacroix–has acquired 10 percent of Digigram’s shares. The company’s co-founders and majority shareholders have retired definitely from operational tasks and sold the major part of their shares in a move that has been planned for years.
Co-founders Philippe Girard-Buttoz and Marian Marinescu have sold additional 19.52 percent of Digigram shares to the investment company Alto Invest that will have no influence on Digigram’s operations. In a separate move that happened simultaneously, Digigram has continued its strategy to concentrate on its core activities and has sold 100 percent of its subsidiary InnovaSON, a manufacturer of digital mixing consoles, to the InnovaSON management team.
The management holding company was created by managing director Delacroix, who is now Digigram’s CEO, financial and administrative director Florence Marchal, customer service director Stéphane Bert, as well as quality manager and industrial director Gilbert Durand. “We all have been with Digigram for many years and strongly believe that the company has everything it takes to maintain and even extend its leadership in the broadcast and public address markets. For what other reason would we make such a major personal investment,” stated the management team.
They not only referred to the technical assets of Digigram–most prominently the company’s PC audio interfaces, the patented EtherSound standard and developments in the audio over IP networks domain–but especially the human capital within Digigram. “The Digigram team is a wonderful combination of enthusiasm, skill and determination. We believe that many employees are motivated to join our endeavour. That’s why the opening of the holding company’s capital to the Digigram staff is already on its way,” said the management team.
Investment company Alto Invest, which has acquired its shares through two investment funds of the FCPI type, will have no seat on Digigram’s supervisory board and no influence on Digigram’s operations. The new shareholder assures long term stability to Digigram as the FCPI type funds have an investment term of at least five years.
The two Digigram co-founders will maintain minority shares in Digigram for the time being. While Philippe Girard-Buttoz will retire completely, Marian Marinescu will maintain his role as president of the supervisory board.
Digigram’s strategy for the future is to concentrate entirely on its core activity: the development of enabling technologies for the international broadcast, public address and other professional audio markets. The sale of InnovaSON to its management forms part of this strategy. Nevertheless, the fact that InnovaSON is an EtherSound licensee, a technology owned and licensed by Digigram, will maintain a commercial and technological link between the two companies.
The Digigram group includes Digigram SA, headquarters, located in Grenoble, France, as well as two sales subsidiaries–Digigram Inc. based in Arlington, Virginia, and Digigram Asia Ltd., based in Singapore.