In Letter, EVA Automation Chairman Announces Purchase of Bowers & Wilkins
This week, Gideon Yu, the executive chairman of EVA Automation announced that the company has made a strategic move to acquire high-end audio manufacturer Bowers & Wilkins. Here’s that letter, which was posted on the company’s website, in full:
Friends of EVA,
I am beyond thrilled to announce that we have acquired Bowers & Wilkins—in my opinion, the absolute quality and design leader in high-end audio equipment. I’ve personally been a huge fan and loyal customer of Bowers & Wilkins for decades and truly admire and respect their Chairman, Joe Atkins. What he and his team have created over the past 30 years is simply inspiring.
Since I founded EVA Automation two years ago, we have been working hard to create fantastic home A/V user experiences. When it was time to seek out partners for our journey ahead, Bowers & Wilkins was unquestionably our #1 choice, and after I met Joe and his team, it was immediately clear that we share the same long term product vision and sincere passion for home entertainment.
To my new friends at Bowers & Wilkins: I can’t wait to meet all of you! Your brand and heritage are second to none, and we at EVA are excited to operate as one combined company under the Bowers & Wilkins name. Joe Atkins has graciously agreed to remain the CEO of our combined company, while I will be our Executive Chairman. There are very few leaders in home A/V as experienced, respected and successful as Joe, and I look forward to partnering with and learning from him…and all of you.
One of the most important parts of our acquisition is that Joe is maintaining a significant equity stake in our combined company and will be joining our board of directors, further aligning all of our interests.
We will have much, much more to announce when the time is right about our vision and our products. In the meantime, we will continue to work hard on developing a truly special, highly integrated, and easy to use home A/V experience that I know you’ll love.
No word on specific details regarding the acquisition when it’ll go through, etc., but expect to hear more soon.