Posted Wed May 15, 2019 at 11:15 AM PDT by Steven Cohen
More audio brands are set to join the Sound United portfolio.
Sound United has entered a preliminary agreement to acquire Onkyo's home audio division. The deal covers the Onkyo, Pioneer, Pioneer Elite, and Integra brands. Beyond Onkyo, Sound United is already the parent company of Denon, Polk Audio, Marantz, Definitive Technology, HEOS, Classé, and Boston Acoustics.
“We are thrilled by the opportunity to add the venerable Onkyo and Pioneer brands to our portfolio. Sound United is one of the leading dedicated providers of premium audio/video products, and we believe the combined businesses will bring unrivaled innovation and sound performance to our consumers and channel partners," said Kevin Duffy. "Upon completion of the transaction, we will work tirelessly with the consumer audio division of Onkyo Corporation to ensure a seamless transition into the Sound United family so that all employees, customers and channel partners benefit from the enhanced breadth and depth of the new organization."
According to Sound United, the acquisition will allow the company to better meet consumer demand in the home audio market with improved product development and manufacturing efficiencies. In particular, the company cited the addition of Onkyo and Pioneer as a benefit to its development of new wireless, voice-enabled speakers and sound bars. Other product categories covered by Onkyo's brands include AV receivers, HiFi equipment, Mini-systems, turn tables, home theater systems, optical disc players, and more.
The preliminary deal is now subject to various conditions and approvals. Once the agreement is finalized, Sound United's current CEO, Kevin Duffy, will serve as the CEO of the combined businesses.
Source: Sound United
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