It's a big deal in the world of AVRs and Pre/Pros.
Sound United, owner of Polk and Definitive Technology has announced the completion of its acquisition of D+M Group. Now, the world's number-one supplier of A/V receivers is part of the same company that owns the Polk audio and Definitive Technology brands and bills itself as North America's largest supplier of loudspeakers.
The sale was finalized on February 28, 2017 for an undisclosed sum. The combined company will be called sound United and run by CEO Kevin Duffy. The company sees opportunities for synergy between existing core businesses as well as potential for market and product portfolio expansion.
"Sound United and the D+M Group employees share a culture of innovation and customer focus. We plan to leverage those core values in the combined company in order to offer consumers and our channel partners a breadth of complementary products while expanding our investments in technology development and marketing," said Duffy. "Our existing customers and channel partners will benefit from the enhanced breadth and depth of the combined product portfolio, while our strategic suppliers should be well-positioned to expand with us as we grow."
The combined company is an AV powerhouse.
Clearly, this is a major development in the world of AV electronics and speakers. It will be interesting to see what a company of this scale and scope can bring in terms of innovation.
D+M Group CEO Jim Caudill will stay on as an adviser to sound United. Caudill notes, "This transaction is a testament to D+M Group’s employees and exceptional brands and all that we’ve accomplished in the audio industry. By joining Sound United, we expect to deliver tremendous value to our customers through access to Sound United’s aspirational speaker brands including Polk Audio and Definitive Technology."
Exciting times, yes?