updated 03:15 pm EST, Wed January 4, 2012
Gibson Guitar, Onkyo team up for audio gear
Gibson Guitar on Wednesday partnered with consumer audio maker Onkyo to build high-end home theater systems and other audio equipment. Gibson has recently formed a Pro Audio Division and will draw on the resources of Onkyo, while Gibson will share its marketing resources and other expertise. The dea will see Gibson get a controlling stake in Onkyo USA and thus become its second-largest shareholder, while Onkyo will also invest in Gibson.
A new Hong Kong-based venture will design and develop consumer audio products. Gibson Pro Audio already has KRK, Cerwin-Vega, and Stanton under its wings.
The partnership needs to be approved by Japanese regulatory bodies and financing approvals from lenders before it can be finalized.