Petaluma, CA (February 24, 2006)–Over 60 years of power engineering are about to come together in Petaluma, California. Panamax (founded 1975) has acquired Furman Sound, Inc. (founded 1974), in a move that will complement each other’s offerings and expand the growing family of companies in the Home Technology Group of Linear LLC (Carlsbad, CA).
No terms of the purchase were disclosed. Known for its AC power conditioning and distribution products, Furman also makes audio and video signal processors, a line the company was founded upon in 1974.
Bill Pollock, president of Panamax, stated, “My team and I are excited about the growth potential for both companies that this engineering partnership will allow. We believe that the advantages of a strong group, especially one with world-class engineering and electronics manufacturing operations, will increase our ability to bring new and innovative products to our global customer base. As a privately-held, 30-year-old company, Panamax has always been responsive to changes in our economy, customers, and product environment. Bringing these two leaders together under one roof will allow us numerous opportunities to help our customers grow profitable businesses.”
According to Grant D. Rummell, chairman of Linear, “Furman is a great fit within our Home Technology Group. Its offerings neatly dovetail with those of Panamax and expand our reach beyond the residential market and into the music industry.”
“Our technologies and products are very complementary, and that means we will be in a position to give our customers exactly the right solutions for their particular needs,” said Dave Keller, executive vice president of sales and marketing for Furman. “The bringing together of Furman and Panamax is a perfect marriage.”
Furman Sound, Inc.