Gibson Guitar and the TC Group announce merger 22/01/08
Gibson Guitar, the world's premier musical instrument manufacturer and leader in music technology and TC Group, leaders in professional audio, have announced that they are planning to merge. The announcement was made by both Gibson Guitar Chairman and CEO Henry Juszkiewicz and CEO of TC Group, Anders Fauerskov (picured above).
The TC Group, headquartered in Risskov, Denmark, develops and manufactures first class audio products that provide lasting user value for audio professionals and musicians. The company has a number of premium brands of pro audio technology and produces amplifiers, speakers, digital processors, guitar pedals and other pro audio and MI products. TC Group's customers include top musical artists, world class recording studios, television and radio/TV stations, prominent theatres, commercial installations, and home entertainment.
"This merger will revolutionize the music industry for many years to come," said Henry Juszkiewicz, Chairman and CEO of Gibson Guitar. "The synergy between the two companies will allow us an enormous advantage in the development of new audio technologies and brings together two of the world's most powerful brands."
"The opportunities ahead are very exciting for us," said Anders Fauerskov, Chief Executive Officer of TC Group. â€œThis merger will create exciting new opportunities for all employees within TC Group and Gibson, and in particular, fantastic new tools for our markets and customers. This partnership will allow us to expand our leadership position in the marketplace."
The announcement marks a preliminary agreement between the two companies. Under the terms of the new merger, Anders Fauerskov will remain based in Europe, and serve as Chief Operating Officer of the new combined Gibson Guitar Corp. The two companies expect to finalize the deal by the end of February 2008. Terms of the deal are not disclosed. About TC Group:
TC Group is a holding company of five individual companies consisting of Tannoy Group, Lab.gruppen, TC Electronic Group, TC-Helicon and TC Applied Technologies. The TC Group was formed in early 2002, when the 'old' TC Group of companies merged with Tgi plc. The merger was completed to create a Group with the necessary expertise and market access to take advantage of the trend towards convergence of digital and acoustic technologies in the audio industry. The company goal is to produce and distribute the best engineered and most recognized and respected brands of high-performance audio products in the world. TC Group also is a leading player in the global speaker-audio industry. About Gibson Guitar
Gibson is known worldwide for producing classic models in every major style of fretted instrument, including acoustic and electric guitars, mandolins, and banjos. Gibsonâ€™s HD.6X-PRO Digital Guitar and the Gibson Robot Guitar represent the biggest advances in electric guitar design in over 70 years. Founded in 1894 in Kalamazoo, Michigan, and headquartered in Nashville since 1984, Gibson Guitar Corp.â€™s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Gibson Baldwin Music Education, Slingerland, Valley Arts, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton, and Wurlitzer. More information: