Harman acquires Martin Professional
Published: ASIA
WORLD: Schouw & Co, parent company of Martin Professional, has announced that Harman International Industries has acquired the lighting solutions manufacturer. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in early 2013.
This transaction has been made to form a ‘one-stop-shop’ for the professional entertainment market, and enables both companies to grow and improve its lighting and video product offerings.
Through this agreement, both companies hope to cement their respective positions in their industries and make their customers more successful by providing new, innovative and improved products, services and solutions in the future.
‘Martin product lines are an excellent complement to our professional audio business,’ commented Blake Augsburger, executive vice president and president of the Harman Professional Division. ‘After the transaction closes, we will be able to offer a full line-up of audio, lighting and video solutions for the live stage as well as permanent venues and installations.’
‘We very much look forward to exploring the mutual benefits this change in ownership offers and continuing to develop our business relationship with our customers and partners across the globe,’ added Christian Engsted, CEO of Martin Professional.
Martin Professional will continue as an independent business unit within the Harman Professional Division, with the existing points of contact.