This latest news came from Pro-Audio Central Magazines.
Following the departure of Midas from the established Bosch distribution channel in channel in Japan earlier in the year, both Midas and KT are now to be acquired by The Music Group, in an agreement that is slated for completion by 31 January 2010.
The Music Group, which is operated by Behringer founder Uli Behringer and long-time business partner Michael Deeb, owns the Behringer brand and is looking to provide a better setting for the prosperity of the well-respected Midas and Klark Teknik marques. ‘We plan to invest considerable resources and support into these brands, and look forward to learning from the achievements of their engineers to take Behringer and the Music Group brands to a new level,’ said Music Group chairman Uli Behringer.
‘Midas and Klark Teknik are at the pinnacle of their market segment,’ agreed Music Group CEO Michael Deeb. ‘They address a unique client base and have a different sales channel from our current core business, and will continue to operate autonomously under the leadership of [managing director] John Oakley while benefiting from the synergies of our combined efforts. All brands will take advantage of the Music Group’s extensive resources and industry-leading competencies including product development, lifecycle management, supply chain and logistics.’
‘The Midas and Klark Teknik brands epitomise the highest possible performance and reliability in the mixing console and signal processing markets,’ said Bosch Communications Systems senior vice president Robert Mulatz. ‘Within the professional audio business of Bosch, this niche market has not been defined as a core business area due to its size and specific requirements. With the Music Group, we believe we have found both the passion and the financial ability needed to grow Midas and Klark Teknik. Of all potential buyers that were screened, we have selected the Music Group as the best fit.’
‘For more than 20 years, I have devoted my life to designing the finest-quality audio products possible,’ added Alex Cooper, Midas director of console engineering. ‘It has been our goal to achieve the very best performance while continuing to broaden our market presence and expand our customer base. I am convinced that working with the Music Group will provide us with advantages that will help us maintain our high standards and grow the business in the long-term.’
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