Primax To Acquire Majority Stake In TymphanySausalito, Calif. – Taiwan-based Primax Electronics will take a majority stake in Hong Kong-based Tymphany, the ODM and OEM supplier of speakers to home, car, and pro audio brands. 10/16/2013 11:49:00 AM Eastern
Sausalito, Calif. – Taiwan-based Primax Electronics will take a majority stake in Hong Kong-based Tymphany, the ODM and OEM supplier of speakers to home, car, and pro audio brands.
The acquisition is expected to be completed by the end of the year following regulatory approvals. Terms weren’t disclosed.
Tymphany said it will continue to operate as an independent company but will benefit from the technology offerings and manufacturing capabilities of Primax, which said it is the world’s largest PC peripheral equipment manufacturer. Primax sells under its own brand name but is also an ODM and OEM supplier.
Tymphany, with administrative offices here is Sausalito, will retain its existing 2,500-employee work force, partner relationships, and management, including Tom Jacoby, chairman and corporate development officer. Tymphany also owns Peerless, the OEM supplier of speaker transducers.
For its part, Primax said the acquisition will help expand its presence in the digital audio market, including Bluetooth speakers, digital music players, wireless audio systems, and the like. “We believe the combined strength of the audio and acoustic technology of Tymphany and the wireless and electronics manufacturing expertise of Primax will put us in the leading position of serving the needs of the digital audio industry," said Primax chairman/CEO Raymond Liang.
With the acquisition, Primax also gets a majority stake in several factories and R&D centers in South China.
Tymphany’s 2,500 employees are located throughout China, Europe and the U.S.