Tokyo, Japan (January 30, 2012)—TEAC Corporation has entered a strategic alliance with Onkyo Corporation.
Through this strategic alliance TEAC and Onkyo will acquire shares of each other’s stock. The companies are exploring ways to share manufacturing facilities, logistic centers, and research and development resources.
TEAC President, Yuji Hanabusa stated that strategic alliance of Onkyo and TEAC will “make both companies more competitive in an ever-changing market.” Onkyo President, Munenori Otsuki, stated that the alliance with TEAC offers “unique opportunities to both companies to leverage each other’s considerable strengths to provide innovative life changing products to its customers.”
The arragement comes less than a month after Gibson Guitar entered its own strategic partnership with Onkyo, buying a majority stake in Onkyo USA to add more resources to its fledgling Gibson Pro Audio division. Under that partnership, Onkyo will aid the Pro Audio Division with “substantial technology resources,” according to the company, while Gibson will provide Onkyo with its marketing resources. In early December, Gibson acquired the Stanton Group—KRK Systems, Cerwin-Vega and Stanton DJ—which became the basis for Gibson Pro Audio.