Financial

End of an Era: Onkyo Shareholders Vote to Sell Off Home Entertainment Division

June 25, 2021 by Ted Leave a Comment

Photo of Onkyo Atmos models at CE Week — *Onkyo Atmos-ready AV models at a past CE Week [Click to enlarge]*

BREAKING NEWS

In a rather terse announcement to investors posted today, Onkyo Home Entertainment Company, Ltd. announced that, by a majority vote of company shareholders, the sale of the company’s Home Entertainment Division to Voxx International has been approved. This vote of approval was widely anticipated and represents the last formality in the transfer of the company over to Voxx. This is the first time since 1945 that Onkyo’s parent company is no longer involved in the home entertainment business.

See more on this end of an Onkyo era

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VOXX Finally Speaks: We Have an Agreement to Purchase Only Onkyo

June 3, 2021 by Ted 1 Comment

Well after much coverage on the VOXX/Onkyo deal by Strata-gee, in which VOXX remained strangely silent, the company finally issued a press release today in which they acknowledged that they had signed an asset purchase agreement (APA) with Onkyo for $30.8 million. The deal remains subject to approval by Onkyo shareholders in a vote scheduled to take place on June 25, 2021.

This news was likely not a surprise to Strata-gee readers. But what was a surprise is that this purchase does NOT include the Pioneer and Pioneer Elite brands.

See more on the latest news out of VOXX about Onkyo

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Onkyo Directors Vote to Authorize the Sale of the Company in $30.3M Deal

May 28, 2021 by Ted 9 Comments

On Wednesday, at a specially convened meeting of the Board of Directors for Onkyo Home Entertainment Co. Ltd. (Onkyo), company directors formally voted to authorize the transfer of Onkyo’s home AV division to the partnership of VOXX, Intl. and Sharp Corporation, in a deal valued at $30.3 million. The transaction is pending shareholder approval. This development represents real progress on a deal that had appeared to be bogged down recently.

See more on this deal as it gets back on track

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Sony Doubles-Down on Transformation from CE to Gaming, Media, & Services

May 27, 2021 by Ted Leave a Comment

Company Plans to Invest $18 Billion in ‘Strategic Investments’; See What Segments are Targeted

Sony Group announced yesterday that it will invest no less than ¥2 trillion ($18 billion) over the next three years to turbo-charge the company’s transition from a consumer electronics powerhouse to a global leader in gaming, media, and services. The only hardware they are looking to equally dominate is the sensor business – and a potential entry into the general chip-making business (more on this later).

More on the remarkable Sony global transformation

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Onkyo Releases Final Fiscal 2021 Numbers and I Am Stunned

May 25, 2021 by Ted 10 Comments

Onkyo Classic OCP-1 — *Is this the future of Onkyo?*

I recently told you that the Onkyo & VOXX/Sharp deal has been delayed from a firm May 20th date to sign a definitive agreement, to a more hazy “sometime” in late May, according to an announcement released by Onkyo to investors in Japan. At the same time the company put that announcement out, they also released the final numbers for their fiscal 2021 results – the fiscal year ending March 31, 2021. The only way I can characterize these numbers is to say that they are…in a word…stunning.

See the Onkyo results for fiscal 2021…

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Oh-Oh: Deadline for Onkyo & VOXX Agreement Passes with No Deal

May 20, 2021 by Ted 1 Comment

Onkyo web page — *From Onkyo’s website…*

BREAKING NEWS

Oh-oh! I thought today I would be confirming that the VOXX/Sharp/Onkyo definitive agreement – which was supposed to be concluded today, May 20, 2021 – was in fact fully executed as directed in the original tentative agreement. But instead, I have learned that the definitive agreement for this sale was NOT in fact signed today, as dictated in the preliminary agreement. Now what?

Is There Trouble in Osaka for Onkyo?

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Sonos Delivers Strong Fiscal 2021 Q2 Results Thanks in Part to a Lousy 2020

May 13, 2021 by Ted Leave a Comment

Raises Guidance for FY2021; Issues Strongest Warning Yet of Supply Chain Issues

After the close of market on Wednesday, Sonos, Inc. (NASDAQ: SONO) reported their fiscal 2021, second quarter results which were very strong. On Wall Street they like to call that an “earnings surprise” and they really, really like it when it is a positive surprise. Sonos did not disappoint them.

See the Sonos 2nd quarter results

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SnapAV Takes Preliminary Step Ahead of Registering for Public Offering

May 12, 2021 by Ted Leave a Comment

In a move that has been widely anticipated for some time now, Wirepath Home Systems LLC, the corporate name for SnapAV, has filed paperwork with the SEC to preliminarily begin the process of registering their stock for sale to the public. We learn little in the rather terse announcement from the company, but many in the industry had expected this day would come for years now.

See more on SnapAV taking steps to go public

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SnapAV Acquires Access Networks

May 6, 2021 by Ted Leave a Comment

SnapAV announced today that it will acquire network service agency Access Networks in a deal expected to close later this month. Terms of the deal were not disclosed. The company says this acquisition “will broaden SnapAV’s networking portfolio with newer products and managed services including system design, configuration, monitoring, and support.”

See more on this latest SnapAV acquisition…

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Emerald Losses Continue in Fiscal 1st Quarter; Sues Insurance Providers

May 6, 2021 by Ted Leave a Comment

Owner of CEDIA Expo & CE Pro Plan Return to Live Events in 2nd Half

Emerald Holding Inc. (NYSE:EEX), formerly Emerald Expositions Events Inc., the national B2B exposition company that owns the CEDIA Expo show as well as certain industry publications such as CE Pro, announced last week financial results for their fiscal first quarter. The news was bleak with a massive decline in revenues and a large net loss as the company is still suffering from the impact of the COVID-19 lockdowns.

Emerald made several other announcements as well. The company says it has acquired an online photography education business, and – perhaps more ominously – it has filed a lawsuit against their event cancellation insurance providers.

Learn more about the Emerald 1st quarter report…

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Financial

End of an Era: Onkyo Shareholders Vote to Sell Off Home Entertainment Division