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Wolfson Acquires Sonaptic Limited

24 July 2007

Pentech Ventures announces the sale of portfolio company Sonaptic Limited, to Wolfson Microelectronics Limited, a leading supplier of mixed-signal semiconductors for consumer electronic products. Sonaptic Limited (“Sonaptic”) is a world leading provider of 3D sound and noise cancellation technologies for mobile devices, with the 3D sound effects solution now installed in over 30 million mobile handsets worldwide. Wolfson Microelectronics will pay a maximum consideration of $40.8m of which $24.8m is payable on completion with the balance subject to certain earn-out targets being achieved.

“We are delighted for the Sonaptic team. Since making our initial investment in 2003, the team has made incredible progress in the development of the products and business, and can be very proud of their achievements. Wolfson has acquired a truly world class team, and we wish them well in this next leg of their journey”, said Sandy McKinnon, Investment Director at Pentech Ventures.

David Monteith, CEO of Sonaptic said “We are extremely grateful to Pentech for the support they have provided us over the past 4 years. They really understood our vision of bringing the best audio effects technology to the mobile market, and have worked hard to help us realize our goals of becoming a leading player in this field. The team is now looking forward to working with Wolfson to really take our solution out the mass market”.

Sonaptic Limited employs 31 people and realized a turnover of approximately $4million in 2006.

For further information:

Pentech Ventures
Sandy McKinnon
Tel: +44 (0)141 572 7303 or 07976 987662
Email: sandy@pentechvc.com