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Japanese manufacturer of audio equipment Onkyo longer sells the business associated with the release of home audio and video equipment, the American company Sound United, a member of the holding company Viper Holdings.
In may this year, Onkyo and Viper Holdings entered into an agreement under which the Americans received all of the shares of the subsidiaries of Onkyo & Pioneer, Onkyo Asia Electronics, Onkyo & Pioneer Marketing Japan Corporation and part of the Pioneer & Onkyo Marketing Asia and Onkyo (Shanghai) Trading. However, it became known yesterday that by mutual agreement with Viper Holdings Board of Directors Onkyo decided to stop the transaction.
the Original Onkyo agreed to transfer Sound United this line of business to focus their resources and technologies in two fields which, in her opinion, have the greatest growth potential. This release of portable digital devices and work in the corporate market as OEM. Sound United for the acquisition was logical, since this company already owns Denon, Polk Audio, Marantz, Definitive Technology, HEOS, Classé and Boston Acoustics, and Onkyo would get out of United Sound growth in the market of home entertainment, getting royalties.
However, in time to comply with all the terms of the agreement failed and the parties have acknowledged that to close the deal before the expiry of the term of the agreement — November 30, 2019 — will not succeed.
If the conditions change, the Onkyo is ready to return to negotiations, and yet one of the oldest manufacturers of audio equipment in Japan will try to independently derive the specified direction out of the crisis.
it Remains to add that business to Onkyo, associated with the release of home audio and video equipment, for five consecutive years, remains unprofitable.
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