So now the deal is done, Premium Audio Company together with Sharp Corporation takes over Onkyo and also signs a license agreement with Pioneer Corporation. This way, Pioneer’s solutions will be marketed worldwide.
It was already known that Premium Audio Company LLC. plans to take over Onkyo’s home entertainment business together with Sharp Corporation. This takeover has now been completed, and the new joint venture with Sharp Corporation has thus also been finalized. Interesting, however, is another detail that we have already briefly mentioned, namely the said licensing agreement with Pioneer Corporation, which Premium Audio Company has now also announced.
VOXX International Corporation new home of Onkyo and Integra
Premium Audio Company, a wholly owned subsidiary of VOXX International Corporation and a provider of various audio solutions, is pleased to announce that it has formed a joint venture with Sharp Corporation to acquire Onkyo’s home audio/video business, which includes the Onkyo and Integra brands, according to the company’s announcement.
Onkyo and Integra are seen as innovative leaders in the audio and video home entertainment industry, and thus a brand that fits perfectly into the broad-based product line of the newly formed Premium Audio Company and parent company VOXX International, respectively.
Premium Audio Company now owns approximately 75 percent of the newly formed joint venture and will handle all product development, engineering, sales, marketing and distribution of Onkyo’s home entertainment business.
Manufacturing at Sharp Corporation
Sharp will continue to manufacture the products at its state-of-the-art Malaysian plant as before, and will focus on scaling its manufacturing lines and managing the supply chain to handle the expected higher production volume, according to the release.
New licensing agreement with Pioneer Corporation
To further expand its portfolio, VOXX has signed a licensing agreement with Pioneer Corporation. Premium Audio Company will now market and distribute Pioneer and Pioneer Elite audio/video solutions worldwide, with the exception of the People’s Republic of China, where manufacturing will also be handled by Sharp.
“Premium Audio Company, VOXX, Onkyo and Sharp have worked intensively together to complete a complicated acquisition. It is a clear sign about the strength of this newly formed alliance. The combination of the world’s leading speaker brands with the most technically sophisticated Japanese electronics brands heralds a new era of design, innovation and performance. We look forward to another 75 years of creating industry-leading products, driving profitability for our partners and connecting people with their passion for entertainment.”
Paul Jacobs, President and CEO, Premium Audio Company
Getting to the point
It was already known that VOXX International was planning to acquire Onkyo’s home entertainment division. It is also known that this will be done under the umbrella of the Premium Audio Company, which already unites renowned brands such as Klipsch, Jamo, Magnat and Heco. Also that this acquisition will take place as part of a joint venture with Sharp Corporation, with the Japanese taking over manufacturing. All of this has now been finalized. The question of what would happen to Pioneer and Pioneer Elite was still open, but this has now also been clarified. A license agreement has been reached with Pioneer Corporation, which provides for worldwide marketing by the Premium Audio Company – with the exception of China. Thus, Pioneer and Pioneer Elite are now also under the umbrella of VOXX International. In addition, it was announced that Sharp Corporation will also take over the production of Pioneer brand solutions in the future.