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Going Like Sixty
Music Icon Goes Global - Gibson Guitars Merges with Danish Audio Co.
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The top brand in acoustic and electric guitars Gibson, announced that it will merge with a Danish audio equipment company. Gibson has set the standards for gee-tars since forever. Every major artist knows and plays Gibson. The company will grow to over 5000 employees after the merger. Gibson’s brands include Gibson and Epiphone guitars and Baldwin pianos.
The companies wouldn't disclose terms of the deal, but Henry Juszkiewicz, chairman and chief executive of Nashville-based Gibson, said the combined company would be based in Music City.
Juszkiewicz said the deal would give both companies an "enormous advantage" in developing new technologies. TC Group, based in Risskov, Denmark, makes products such as amplifiers, speakers and digital processors.
"I think that we're going to shake up the industry," Juszkiewicz said. The deal was announced at NAMM 2008, a music products trade show taking place in Anaheim, Calif.
TC Group's chief executive, Anders Fauerskov, will serve as Gibson's chief operating officer but remain in Europe, the companies said in a statement. The deal is expected to close in February.
With the merger, Gibson will grow to 5,000 employees worldwide. Juszkiewicz said no layoffs were planned as a result of the deal and that Gibson plans to hire more engineers and marketing employees.
Nathan Adam, associate chairman of the department of recording industry at Middle Tennessee State University, said the proposed merger didn't surprise him.
"Gibson would be smart to merge or acquire," Adam said. That's because it will allow Gibson to diversify its company and let it "stay on top in the music industry."
(tennessean)
Via: tennessean
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