According to a definitive agreement signed Tuesday, D&M Holdings Inc. will acquire Philips Sound Solutions (PSS) of Royal Philips Electronics. The new company will be called “D&M Premium Sound Solutions.”
With this acquisition, D&M adds to its collection of brands, which already includes Denon, Marantz, McIntosh Laboratory, Boston Acoustics, Snell Acoustics, D&M Professional, Denon DJ, ReplayTV and Escient. PSS clients include BMW, Volkswagen, Toyota (Europe), Seat and Jaguar on the automotive end and Philips, Dell and Nokia on the consumer end.
PSS CEO Bernard Geldof will head up the new division, which will be an arm of D&M Holding’s automotive OEM business unit. The acquisition is expected to close by the end of the year.
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