German pro audio giant Behringer has snuck in to acquire leading console manufacturers Midas and Klark Teknik from Bosch Communications Systems for an undisclosed amount, the companies have revealed.
While industry speculation had suggested a deal was in the works for some months, Behringer has taken the unexpected decision to incorporate the acquistions under a new holding company based in Bermuda called the Music Group, which is chaired by Behringer founder Uli Behringer.
The umbrella organisation will also assume commercial control of the Behringer brand. Curiously, while the Music Group is largely an unknown quantity, a statement on its website claimed the current managing director Michael Deeb, had held the position since January 2003. Behringer and Deeb were unavailable for comment at the time of press.
Still, elsewhere on the website, the company confirmed it was seeking to make further acquisitions in the pro audio sector and has invited expressions of interest from organisations keen to do business.
Midas and Klark Teknik have been two of the more successful pro audio manufacturers in recent years. Midas was awarded this year’s Sound & Stage pro audio technology award for its PRO6 console, while Klark Teknik has received considerable acclaim for its DN360 EQ range.
Midas’ director of console engineering, Alex Cooper, was upbeat about the takeover.
“For more than twenty years I have devoted my life to [this business],” he said. “I am convinced that working with the Music Group will provide us with advantages that will help us maintain our high standards and grow the business for the long term.”
Robert Mulatz, senior VP of Bosch Communications Systems, said the sale of both companies resulted from the fact that neither had ultimately “been defined as a core business area" by the German electronics giant.
“With the Music Group, we believe we have found both the passion and the financial ability needed to grow Midas and Klark Teknik,” he said. “Of all potential buyers that were screened, we have selected the Music Group as the best fit."