acquisition

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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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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Trying to Avert Disaster, Onkyo Signs Preliminary Deal to Sell to Voxx/Sharp

May 4, 2021 by Ted 1 Comment

Onkyo system on display in Japan
[PHOTO: The Nikkei]

I can’t say this news from Onkyo Home Entertainment comes as much of a surprise. And based on conversations I’ve had with many of you over the last week or so, my reference a couple of weeks back to the growing romance between Onkyo and Voxx was clearly a wink-nod signal that I saw this coming. Onkyo has signed a preliminary agreement to sell their largest, but not their only, remaining division – the home audio/video division – to a partnership consisting of Sharp Corp. and Voxx Intl. The deal includes the Onkyo, Integra, Pioneer, and Pioneer Elite brands.

But after the abject failure of three previous attempts to sell the troubled company, will this deal actually close? See my thoughts…

Will deal between Onkyo and VOXX/Sharp close?

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Florida Rep Firm LK & Assocs. Acquires L.P. Hench

January 13, 2021 by Ted 2 Comments

Ft. Lauderdale, FL-based manufacturers representative firm LK & Associates has acquired another Florida rep firm, L.P. Hench in a deal announced Tuesday. This acquisition represents a line and talent expansion for LK & Associates as it continues to enjoy strong growth.

See more on this acquisition deal in Florida…

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Bowers & Wilkins in Preliminary Agreement to Be Acquired By Sound United

June 12, 2020 by Ted 4 Comments

In yet another twist in the long and winding saga of Bowers & Wilkins (B&W), it was announced late Friday that the company has entered into an agreement to be acquired by Sound United, the parent company of several audio brands such as Denon, Marantz, Polk Audio, Definitive Technology, HEOS, Classé, and Boston Acoustics.

See more on Sound United acquiring Bowers & Wilkins…

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Once Again, Melrose Considers Disposing of Nortek; This Time It’s Serious

January 22, 2020 by Ted Leave a Comment

Melrose Industries plc, the British turnaround specialist who acquires underperforming companies to improve their operations and management for resale, is now actively considering selling off the bulk of Nortek in a deal that could be worth $3 billion, according to reports from Bloomberg News and the Financial Times. If they actually execute this sale, it will be a relatively early exit from their ownership of Nortek which they purchased in 2016 for $2.8 billion.

See why Melrose is ready to exit Nortek…

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Sonos Announces Record Fiscal 2019 Results; Acquires Snips

November 21, 2019 by Ted Leave a Comment

Sonos announced this week that it has acquired French AI voice control software maker Snips in a deal valued at $37.5 million. The company also released their Fiscal 2019 results in a letter to investors denoting a record year for the company – its first as a publicly traded one.

See more on Sonos’ new announcements…

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Onkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%

November 14, 2019 by Ted 4 Comments

Also: Consolidating Facilities & Moving Headquarters

It appears that the other shoe is dropping in the wake of the failed acquisition of Onkyo Corporation’s branded A/V division by Sound United last month, as the company now says it will reduce its overhead by cutting jobs. This appears to be the first step in a major reorganization of the company, as it seeks to right-size the organization for the industry’s new, smaller, and more competitive environment in which electronics manufacturers find themselves.

See more on Onkyo’s restructuring…

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Private Equity Giant Apollo Global Management Acquires Tech Data in $5.4B Buyout

November 13, 2019 by Ted Leave a Comment

Tech Data, one of the largest technology distributors in the U.S. and globally, has been acquired by Apollo Global Management, a private equity powerhouse, in a deal valued at $5.4 billion. The deal announced today, is expected to close by mid-2020.

acquisition

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

See more on the latest news out of VOXX about Onkyo

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

See more on this deal as it gets back on track

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