MQA is going into administration

(Image credit: MQA)

MQA Ltd, the company behind the MQA digital music technology, is going into administration.

We don't have many details at the moment, and it's uncertain if the firm's partnership with Tidal – which uses MQA technology to enable its 'hi-res' audio streams – will be affected. But we do know that MQA Ltd is seeking a buyer and has undergone a restructuring process. (Update: Tidal has confirmed to What Hi-Fi? that the MQA library will remain.)

The full statement from MQA reads as follows:

"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 and is comparable to Chapter 11 in the US.

"We won't be commenting further while negotiations take place."

This is a breaking news story, we'll bring you more details as they emerge.

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Joe has been writing about tech for 20 years, first on staff at T3 magazine, then in a freelance capacity for Stuff, The Sunday Times Travel Magazine (now defunct), Men's Health, GQ, The Mirror, Trusted Reviews, TechRadar and many more. His specialities include all things mobile, headphones and speakers that he can't justifying spending money on.