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Ownership Moves at Audio Precision

Ownership Moves at Audio Precision

Some of the founders of Audio Precision apparently weren’t too happy with the changes that had been made since they sold the company in 2000, so they’ve gotten more deeply involved again.
Two of the founders and the CEO are re-investing in the company. Bruce Hofer gains a majority share and becomes chairman. Also acquiring shares are Robert Wright, a co-founder and a principal engineer, and Alan Miksch, the CEO.
The company issued a statement saying the three had regained control of the company from a small group of private investors. The company was founded in 1984 by a group of four who met at Tektronix Inc. In 2000, they sold when one founder retired.
Hofer was quoted in the statement as saying that, since the sale in 2000, “Audio Precision has seen too much emphasis on short-term performance and too little consideration for longer-range strategic issues facing the company.”
“This event really represents a change in top-level direction, and not a change in management,” the company stated. It did not immediately reply to a request for information about the private investors.