Connect with us

Hi, what are you looking for?

New Products

LOUD Technologies Announces Acquisition of Martin Audio

It was announced today that LOUD Technologies Inc. (NASDAQ:LTEC) of the USA has entered into an agreement to purchase all of the outstanding capital stock of Martin Audio Limited of the UK. The purchase price for this acquisition will be estimated on the closing date and will take into account Martin’s cash on hand, third party debt obligations and levels of net working capital, with a final purchase price calculation to be made after closing. Assuming a closing date of March 31, 2007 and fluctuations in levels of cash, third party debt and net working capital consistent with Martin’s recent financial history, we estimate that the purchase price will be between GBP 17.25 million (US$33.2 million) and GBP 18.25 million (US$35.1 million) depending on cash available to the company at closing and third party indebtedness outstanding as of the closing date. The purchase price may fall outside this range. Closing is expected to occur in March 2007 and is dependent upon customary conditions including the receipt of the required regulatory approvals.

David Bissett-Powell, Managing Director of Martin Audio commented: “We are excited about becoming part of the LOUD Group of Companies. Over the last few years we have built an incredibly strong and dedicated team of professionals and their knowledge of our industry is second to none. Our worldwide distribution partners have also become a strong part of this team and in order to utilize these talents and benefits to their maximum potential we need to have access to a wider base of technologies and for this reason have been looking at potential partners for some time. Ours is one of the few mature industries that has no dominant player. Even the largest has only a single digit percentage of the business so there is still a lot to play for. It seems apparent, however, that to be a small independent is becoming tougher on the world stage. Customers are seeking more of an integrated approach and the merging of technologies is inevitable. We recognize the need for multiple disciplines and by becoming part of LOUD we immediately have access to further resources, both technical and financial, to assist our team in reaching their goals.”

Jamie Engen, CEO of LOUD said: “We are delighted to have David and his team become part of the LOUD Group. The management at Martin Audio have a proven track record of success in developing premium and innovative products along with an excellent International Distribution network. These core strengths will be a great asset to the further developments of our existing brands. Similarly, our commanding position within the USA Pro Audio market can be a great source of knowledge to support the current Martin Audio North American team. It is envisaged that Martin Audio will remain an independent brand within the group, however, we expect there to be synergies that can be exploited to the mutual benefit of all our customers and our newly expanded group.”

About LOUD Technologies Inc.
LOUD Technologies Inc. (http://www.loudtechinc.com) is one of the world’s largest manufacturers and distributors of professional audio and music products. As the corporate parent for world-recognized brands including Alvarez, Ampeg, Crate, EAW, Knilling, Mackie, SIA and TAPCO, LOUD Technologies produces and distributes a wide range of digital recording products, loudspeakers, commercial audio systems, audio and music software, guitars, guitar and bass amplifiers, and orchestral string instruments. LOUD Technologies’ brands can be found in professional and project recording studios, video and broadcast suites, post-production facilities, sound reinforcement applications including churches and nightclubs, and retail locations and on major musical tours.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest Products

Moon by Simaudio 371 Network Amplifier Black Angle

Music Streamers

Priced at $6,500, the MOON 371 Network Player/Amplifier includes a phono stage and trickle-down technology from the North Collection.

Amazon Alexa+ Devices 2025 Amazon Alexa+ Devices 2025

New Products

Amazon launches Alexa+ AI across a new line of Fire TVs and Echo devices offering smarter control, personalized content, and home automation.

FiiO Tiny Dongle DACs FiiO Tiny Dongle DACs

Dongle DACs

FiiO Snowsky TINY Dongle DACs arrive in two variations to unlock big sound from lossless and hi-res audio on your smartphone.

Philips Ambilight Roku TV Front Lifestyle Philips Ambilight Roku TV Front Lifestyle

New Products

Philips Ambilight TVs turn up the fun for movies and games with glowing LED lighting and the convenience of Roku streaming.

CMF Headphone Pro Colors CMF Headphone Pro Colors

New Products

CMF Headphone Pro offers ANC, LDAC, Spatial Audio & ChatGPT under $100—raising questions for rivals like OneOdio, Final & EarFun.

ZVOX AV835 Soundbar Front Lifestyle ZVOX AV835 Soundbar Front Lifestyle

New Products

ZVOX's AV835 $269 plug-and-play soundbar brings clear dialogue and bass without the overkill—your landlord will thank you.

Gift Ideas?

Early Holiday Gift Guide 2025

Gift Guides

Whether you’re upgrading your home audio setup or hunting for the perfect gift, get a head start on shopping for popular and stylish tech...

You May Also Like

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers