Sound United cancels Onkyo-Deal

Surprising news from California: Sound United, the parent company of Denon, Marantz and other brands, announces that the takeover negotiations with Onkyo have been cancelled.

In May 2019, the two companies had agreed, albeit subject to certain conditions, upon Sound United purchasing the consumer audio division of Onkyo Corporation, which includes Pioneer's audio-video division. Now it was announced in most diplomatic language: that "both companies have agreed that it is in the best interest of both sides to terminate the planned acquisition." One can only speculate about the reasons - possibly the antitrust hurdles were too high. After all, a conglomerate of Denon, Marantz, Onkyo and Pioneer would have dominated the market, especially in the AV-receiver sector. Sound United is now striving for "organic growth with the existing brands" and "sensible acquisition", according to the press release.

Back

STEREO Magazine Issue #23

Blick ins Heft
Anzeige

Previous Issue #22

STEREO Magazine Newsletter

Subscribe to our newsletter and don't miss a new issue anymore!

Register now