LOUD Technologies – the company behind Alvarez, Ampeg, Crate, EAW, Mackie, Martin Audio and TAPCO gear – has announced that it has submitted written notice to the NASDAQ Stock Market of its intention to voluntarily delist its common stock from NASDAQ.
“Due to our small market capitalization, we have not enjoyed many of the benefits traditionally associated with a NASDAQ listing and Exchange Act registration,” said Rodney E. Olson, Chief Executive Officer of the Company. “Our Board believes that shareholder value is best served through reducing costs and focusing on our business plan rather than maintaining our current public reporting status and NASDAQ listing.”
In deciding to delist the Company’s common stock from NASDAQ and deregister its common stock under the Exchange Act, the Board of Directors concluded that the costs of maintaining its listing on NASDAQ and remaining a public company outweigh the benefits to the Company and its shareholders on continued NASDAQ listing and Exchange Act registration.
In addition to this news, we’ve heard rumors that Loud is having trouble with its suppliers.
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LOUD Technologies Inc., a developer and marketer of professional audio equipment under the Mackie, EAW and TAPCO brands, has announced a cross-licensing agreement with Echo Digital Audio. Under the terms of the agreement, LOUD Technologies will license FireWire audio technology from Echo and Echo will license Mackie-branded application and plug-in products from LOUD.
“This partnership leverages each company’s strengths,” commented Tony Rodrigues, Business Development Manger at LOUD. “Echo is a recognized leader in the development of high-quality audio devices for computer-based audio workstations. Combining their expertise with Mackie’s exceptional analog and digital audio technologies will result in a new generation of high-performance audio I/O products that will bring a host of innovative features and capabilities to the desktop and professional recording markets.”
As part of this agreement, Echo will begin bundling Mackie-branded software products with their PCI and FireWire devices. This bundle will include Mackie Tracktion, the easy-to-use digital recording and MIDI production software; as well as Final Mix, the stereo mastering plug-in originally developed for the award-winning Digital 8-bus console.
Milo Street, CTO of Echo Audio added, “We are very proud to be associated with LOUD, and specifically the Mackie brand. Adding Mackie software products will bring both professional capabilities and tremendous ease-of-use to Echo’s digital product line. We believe that this is just the beginning of a great relationship that will ultimately benefit both Mackie and Echo customers alike.”