Gibson Guitar Invests in Onkyo
Gibson Guitar said Wednesday that it has purchased a stake in Onkyo Corp, which includes a majority of distribution arm Onkyo USA.
Under the terms of the deal, Onkyo will offer "substantial technology resources" to Gibson's Pro Audio Division, while Gibson will provide Onkyo with its marketing resources and expertise, the companies said.
Financial terms were not disclosed. The companies will form a Hong Kong-based joint venture and Gibson CEO Henry Juszkiewicz and Onkyo CEO Mennori Otsuki will each join the board of the opposite company.