(l-r) director of console development Alex Cooper;
managing director John Oakley; sales and marketing
director David Cooper.Kidderminster, UK (December 8, 2009)--Midas and Klark Teknik have been sold to the Music Group, a European-based holding company for pro audio and music products brands which also owns Behringer.
The Music Group, managed by Uli Behringer and Michael Deeb, acquired the brands from Bosch Communications Systems as part of an asset deal due to conclude on January 31, 2010, pending regulatory approval. While costs and terms of the deal were not made public, neither brand will be folded, and all 106 current Midas and KT employees will be brought along with the transfer.
Robert Mulatz, senior vice president of Bosch Communications Systems, remarked, “Midas and Klark Teknik have always epitomized the highest possible performance and reliability in the mixing console and signal processing markets. Within the professional audio business of Bosch, this niche market has not been defined as a core business area due to its size and specific requirements. We believe that in the Music Group, we have found both the passion and the financial ability needed to grow Midas and Klark Teknik. Among all potential buyers that have been screened, we have selected the Music Group as the best fit.”
Uli Behringer, chairman of the Music Group added, “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 to these brands, we also look forward to learning from the achievements of their engineers and working with them to get Behringer to a new level.”
Music Group CEO Michael Deeb commented, “Midas and Klark Teknik are at the very pinnacle of their market segment. They address a very unique client base and fulfilment requirement and have a very different sales channel from our current core business. They will continue to operate autonomously under the leadership of John Oakley. However, Midas and Klark Teknik will have full access to the group’s extensive resources and advanced automated system platforms in areas such as product development and lifecycle management, supply chain, logistics, decision support and finance.
Alex Cooper, Midas director of Console Engineering, noted: “For over twenty years I have devoted my life to designing the finest quality audio products possible. It has always been a challenge to achieve the very best performance at a price that the market can afford. The temptation is to cut corners, but that has never been, and will never be the Midas way. I am convinced that working with the Music Group will provide us with advantages that will help us maintain our high standards for the long term.”