Bosch Communications Systems sold its Midas and Klark Teknik brands on Dec. 8 to The Music Group, parent company of Behringer. The companies would not disclose terms of the deal. The pact is subject to regulatory approval.
The Music Group said it plans to retain all 106 Midas and Klark Teknik employees. Robert Mulatz, senior vice president of Bosch, said the mixing console and signal processing markets, where Midas and Klark Teknik serve, have not been “defined as a core business area due to its size and specific requirements. With the Music Group, we believe we have found both the passion and the financial ability needed to grow Midas and Klark Teknik. Of all potential buyers that were screened, we have selected the Music Group as the best fit.”
“Midas and Klark Teknik are at the very pinnacle of their market segment,” said Music Group CEO Michael Deeb. “They address a very unique client base and have a different sales channel from our current core business. The brands will continue to operate autonomously under the leadership of John Oakley while benefiting from the synergies of our combined efforts. All brands will take advantage of the Music Group’s extensive resources and industry-leading competencies, including product development, lifecycle management, supply chain and logistics.”
Added Uli Behringer, chairman of the Music Group: “I am thrilled and honored to join with John Oakley and his team in taking these legendary brands forward. I have immense respect for the dedication to quality, performance, and customer service that this team has shown consistently over the years. While we plan to invest considerable resources and support in these brands, we also look forward to learning from the achievements of their engineers and working with them to take Behringer and all of the Music Group brands to a new level.”
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