Gibson To Buy Majority Stake in TEAC
This is equivalent to a total price of around $52,482,000. The press release continued: "This is yet another step in Gibson’s aim to become the largest music and sound business in the world with the ability to deliver an uncompromising entertainment experience to the customer, spanning musical instruments to the most innovative recording and audio/visual devices. Adding TEAC products to Gibson’s line-up allows the company to offer tailored products to cater to every taste and economic range for music lovers, and music creators, around the world."
TEAC, Tascam, and Esoteric will become part of Gibson’s Pro Audio division, which includes the Cerwin-Vega, KRK, and Stanton brands, as well as Gibson's strategic partner, Onkyo.