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STS, a supplier of wireless audio chips for the consumer audio market, has secured £2.9 million from technology investor Kennet Partners.

STS’ shareholders were advised by law firm Loyens & Loeff, which was led by Eric de Best, who said the firm first worked with the company several years ago when it represented one of the current shareholders on his investment in the business.

“Notwithstanding the logistical challenges faced by the fact that the shareholders, the company and the investor were spread over different time zones, through the constructive and open nature of the negotiations the parties were able to close the transaction smoothly,” de Best added.

“With the backing of its new shareholder the company looks well poised to realise its plans for the future.”

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