Saline, Mich. - Wadia Digital has joined the Fine Sounds
stable of audio brands.
Italy-based Fine Sounds Spa, which owns the
high-end Sonus Faber and Audio Research brands, has purchased
Wadia Digital as part of what Fine Sounds called its "strategy of becoming a
leading multi-brand player in the two-channel high-end audio sector."
Wadia said its
acquisition provides "opportunities for building on Fine Sounds Group's product
development capabilities and financial resources" and that it would use Fine
Sounds resources to expand its Series 1 premium lifestyle line. That line
consists of a small iPod dock, an iPad/iPod/iPhone dock, and a small integrated
amp to connect to them to create a small desktop audio system. A DAC will be
added to the line at January's International CES.
Wadia president/CEO, told TWICE that the three brands are complementary, with
Sonus Faber focused on speakers, Wadia known mainly for digital audio
electronics, and Audio Research well-known for its analog audio components,
though it also sells integrated-circuit components. Schaffer, who joins the
Fine Sounds board, also said that although the Wadia and Audio Research lines overlap,
Wadia has focused more on digital-to-analog conversion technology, whereas
Audio Research has focused more on amps and preamps.
Wadia plans no
staff or distribution changes, he added.
Fine Sounds Spa is owned by Milan-based
private equity fund Quadrivio. With
the acquisition, Fine's annual revenue exceeds $30 million through 120
employees worldwide. Fine Sounds acquired Sonus Faber and Audio Research in the
past few years.
currently manages a family of funds with total equity exceeding $300 million.