Major news in the world of high-end audio: Bowers & Wilkins has been acquired by EVA Automation, Inc.--a technology company based in Silicon Valley. Both Bowers & Wilkins and EVA Automation founder Gideon Yu have issued formal statements, presented below. It appears that the combined company will continue to operate under the Bowers & Wilkins name, and B&W chairman Joe Atkins will stay on as CEO.
From Bowers & Wilkins
Bowers & Wilkins, the British audio brand founded in Sussex, England, in 1966, has been acquired by Silicon Valley based EVA Automation Inc, a technology company founded by Gideon Yu.
Bowers & Wilkins is the market leading maker of high-end audio equipment. It has forged its position through a relentless commitment to high quality innovative research, development and build. EVA Automation will integrate fully with Bowers &Wilkins' unmatched acoustic engineering prowess by offering innovative A/V technologies and product vision that will enable Bowers & Wilkins to grow faster and further.
Joe Atkins, incumbent owner of Bowers & Wilkins, will remain as CEO and will work closely with EVA and Yu to continue to develop Bowers & Wilkins' position as a world class highly integrated AV company. Gideon Yu is well known for helping to build world-class companies including Facebook, YouTube and Square and will act as Executive Chairman for Bowers & Wilkins
Gideon Yu commented, "Bowers & Wilkins brings an incredible brand, experienced and well-respected team and commitment to making high-end audio equipment of unmatched quality. We at EVA share their same product vision and passion for home entertainment and look forward to creating fantastic home A/V experiences together as one combined company."
Joe Atkins commented, "This is an exciting time for Bowers & Wilkins - a brand of true heritage and quality. In Gideon Yu and EVA Automation we have a true innovator in the technology sector."
Gideon Yu issued the following statement on the EVA Automation website:
Friends of EVA,
I am beyond thrilled to announce that we have acquired Bowers & Wilkins--in my opinion, the absolute quality and design leader in high-end audio equipment. I've personally been a huge fan and loyal customer of Bowers & Wilkins for decades and truly admire and respect their Chairman, Joe Atkins. What he and his team have created over the past 30 years is simply inspiring.
Since I founded EVA Automation two years ago, we have been working hard to create fantastic home A/V user experiences. When it was time to seek out partners for our journey ahead, Bowers & Wilkins was unquestionably our #1 choice, and after I met Joe and his team, it was immediately clear that we share the same long term product vision and sincere passion for home entertainment.
To my new friends at Bowers & Wilkins: I can't wait to meet all of you! Your brand and heritage are second to none, and we at EVA are excited to operate as one combined company under the Bowers & Wilkins name. Joe Atkins has graciously agreed to remain the CEO of our combined company, while I will be our Executive Chairman. There are very few leaders in home A/V as experienced, respected and successful as Joe, and I look forward to partnering with and learning from him...and all of you.
One of the most important parts of our acquisition is that Joe is maintaining a significant equity stake in our combined company and will be joining our board of directors, further aligning all of our interests.
We will have much, much more to announce when the time is right about our vision and our products. In the meantime, we will continue to work hard on developing a truly special, highly integrated, and easy to use home A/V experience that I know you'll love.
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