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System Integration for the Connected Home

Industry news

Loewe Shuts Down!

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German luxury TV maker Loewe is broke, Spiegel Online reports-- leading to the end of production on 1 July 2019 and the threat of dismissal of the majority of around 400 employees.

Loewe

According to the news story, the company has less than €500000 in the bank, and was denied a €9 million loan from British investment firm RiverRock. The situation lead to the union IG Metall to criticise RiverRock, as it accuses the firm of waiting until Loewe was broken to, as union head Jurgen Horn puts it, "earn money with the rubble of the company."

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Monitor Audio Buys Blok

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Monitor Audio BlokHi-fi specialist Monitor Audio acquires Blok, an audio furniture manufacturer Monitor Audio has often partnered with in order to showcase Roksan products and loudspeakers.

Financial details of the deal are not available.

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CEDIA 2019 Awards Tickets on Sale

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CEDIA opens sales of tickets for the 2019 EMEA Awards with an early bird discount until 31 July 2019. The event takes place on 26 September at the V&A in London.

CEDIA 2019 AwardsTickets for the black-tie event include a drinks reception in the Museum Dome complete with soaring ceiling, classical architecture, marble floors and a central glass sculpture. Following is a 3-course dinner and evening entertainment in the largest and most prestigious space in the museum, the Raphael Gallery, housing some of the most important surviving examples of Renaissance art in the world.

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Sound United Buys Onkyo Home Audio Division

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Sound United, the parent company of Denon, Polk Audio and Marantz, among others, announces the acquisition of the Onkyo consumer audio division-- owner of the Onkyo, Pioneer, Pioneer Elite and Integra brands.

Onkyo Sound UnitedFinancial details of the deal are not available.

“We are thrilled by the opportunity to add the venerable Onkyo and Pioneer brands to our portfolio. Sound United is one of the leading dedicated providers of premium audio/video products, and we believe the combined businesses will bring unrivaled innovation and sound performance to our consumers and channel partners,” the company says.“ Upon completion of the transaction, we will work tirelessly with the consumer audio division of Onkyo Corporation to ensure a seamless transition into the Sound United family so that all employees, customers and channel partners benefit from the enhanced breadth and depth of the new organisation.”

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SnapAV Buys Control4

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SnapAV and Control4 announce a "definitive merger agreement"-- one seeing SnapAV buying all Control4 shares in an all-cash agreement worth $680 million. In other words, it is less a merger and more, well, an outright acquisition.

SnapAV Control4According to the two companies, the deal makes a "highly complementary combination," bringing a one-stop shop with a complete portfolio of custom smart home, control and automation solutions. It also creates a single company with over 1200 employees, market-leading solutions, "exceptional" interoperability and channel platform, dealer-first programs, global distribution and financial resources to deliver value.

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