News
Loud buys Martin Audio
Andy Barrett Mar 12 2007, 5:15pm
In a shock move that took most in the industry by surprise, Loud Technologies is on the verge of buying Martin Audio, the British speaker manufacturer.
The deal is said to worth between $33.2 million and $35.1 million, although a final price will only be forthcoming once the deal is inked, hopefully by the time of the Pro Light + Sound show at the end of March.
Loud’s official statement said that the company would continue as “an independent company within the group” although it is expected that Loud will be taking full advantage of Martin’s exclusive technological innovations, as well as Martin benefitting from Loud’s considerable global presence.
The purchase is also curiously timed as Loud has recently pulled back on its EAW manufacturing plant in the US and is outsourcing manufacture to Asia, leaving the company without its own western manufactured speaker line.
The arrival of Martin inside the Loud stable makes for interesting reading for those looking between the lines.
EAW’s founder, Ken Berger, resigned as VP for marketing for Loud late last year, seemingly unhappy with the direction the company was taking.
