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Business News Digital
MQA company enters administration
By Chris Cooke | Published on Wednesday 12 April 2023
The UK company behind high quality audio technology MQA has entered administration.
In a statement last week, the company said it is seeking to restructure via the administration in order to facilitate a sale of the business, with its main financial backer – Reinet Investments – seemingly seeking to step away from the venture.
The statement from MQA Ltd reads: “Following the recent positive reception to MQA’s latest technology (SCL6), there has been increased international interest in buying MQA Ltd. At the same time, MQA’s main financial backer is seeking an exit”.
“In order to be in the best position to pursue market opportunities and expedite this process, the company has undergone a restructuring initiative, which includes entering into administration. During this process, MQA continues to trade as usual alongside its partners. We won’t be commenting further while negotiations take place”.
Various music companies and digital services have allied with MQA over the years in order to facilitate higher quality audio. And, of course, offering higher quality audio has become a priority for an increasing number of streaming services in recent years.
Although there are a number of competing formats for delivering higher quality streams, and arguably active consumer interest in accessing the best quality audio from digital platforms remains somewhat niche.
