Sound United Will Not Be Acquiring Onkyo's Home Audio Division

By |

Sound United Will Not Be Acquiring Onkyo's Home Audio Division


Following up on the announcement from earlier this year that Sound United, parent company of Denon and Marantz, had entered an agreement to acquire Onkyo's consumer audio devidsion--which would include Onkyo, Pioneer, Pioneer Elite, and Integra--comes the announcement that this deal will not be going through. No specific reasons have been given, other than the fact that "necessary closing conditions could not be satisfactorily achieved." You can read the full announcement below, though:

In mid-May, Sound United LLC announced the signing of a term sheet agreement to acquire Onkyo Corporation's consumer audio division, including the Onkyo, Pioneer, Pioneer Elite, and Integra brands. As was shared at the time, the completion of the transaction was subject to several conditions, including the finalization of all definitive agreements, completion of satisfactory due diligence, securing of committed financing and various other required approvals.

At this point, we have mutually agreed that it is in the best interest of both organizations to terminate the proposed acquisition. After months of rigorous work and negotiations, it became apparent that all of the necessary closing conditions could not be satisfactorily achieved.

Sound United remains dedicated to our mission of Bringing Joy to the World Through Sound. We will continue to pursue this mission through organic growth with our existing brands and through opportunistic acquisitions which allow us to better serve the consumer.

About Sound United
Sound United is a DEI Holdings company with an award - winning portfolio of audio brands that deliver industry - leading home theater and personal audio listening experiences for a wide - range of consumers. Sound United is a subsidiary of DEI Holdings, a portfolio company of Boston - based private equity firm Charlesbank Capital Partners, LLC. Each brand provides an expansive array of audio products that includes high - end and custom installation audio, to mid - tier markets that cover loudspeakers, sound bars, AV receivers, wireless multi - room music systems, Bluetooth® speakers, amplifiers, turntables and headphones. 

Dedicated to artfully reproducing audio for listeners and enthusiasts around the world, Sound United is comprised of Denon®, Marantz®, Polk Audio, Classé, Definitive Technology, Polk BOOM, HEOS, and Boston Acoustics. Each brand offers a unique approach to bringing home theatre and music to life. Whether it's through the legendary heritage of Denon, the classic sound of Polk Audio, the premium performance of Definitive Technology, the highly - sought - after amplification of Marantz, the action - inspired form factors of Polk BOOM, the wireless home audio solutions of HEOS, or the accessible performance of Boston Acoustics, Sound United is your sound -- so listen. For more information on Sound United, please visit www.soundunited.com.


Latest AV Receiver News

Sep 08
Rotel Releases New Surround Preamp and Amplified Processor The RSP-1576MKII and RAP-1580MKII both support Dirac room correction
Rotel Releases New Surround Preamp and Amplified Processor

Sep 08
Denon Releases New 8K Receiver The flagship AVR-A110 13.2-channel 8K AV receiver is packed with features and is rated to deliver 150 watts per channel
Denon Releases New 8K Receiver

Aug 25
Yamaha's New 8K Receivers Have More HDMI 2.1 Inputs Than the Competition While most new 8K AVRs sport only one HDMI 2.1 input, the Yamaha RX-V6A and RX-V4A have three and four, respectively
Yamaha's New 8K Receivers Have More HDMI 2.1 Inputs Than the Competition

Aug 13
NAD Updates Its Popular T 758 Surround Sound Receiver The T 758 V3i is equipped with Dolby Atmos and 4K video passthrough, and features Modular Design Construction for future upgrades
NAD Updates Its Popular T 758 Surround Sound Receiver

Aug 11
AudioControl and Dirac Team Up to Tackle Bass AudioControl's current Concert Series AV processors and receivers are now equipped with Dirac Live Bass Control
AudioControl and Dirac Team Up to Tackle Bass

  • Comment on this article

Post a Comment
comments powered by Disqus