Sound United will acquire Onkyo Corporation’s consumer audio division, including the Onkyo, Pioneer, Pioneer Elite and Integra brands.
According to a statement, the companies have entered into a preliminary agreement, with negotiations of definitive terms and agreements to follow.
Onkyo Corporation will retain the rights to the Pioneer and Onkyo brands for its Digital Life and Embedded Audio businesses. Sound United will acquire all worldwide third-party distribution agreements under which the premium audio products are currently sold, the company said.
Sound United CEO Kevin Duffy will be CEO of the newly combined businesses.
“We are thrilled by the opportunity to add the venerable Onkyo and Pioneer brands to our portfolio. Sound United is one of the leading dedicated providers of premium audio/video products, and we believe the combined businesses will bring unrivaled innovation and sound performance to our consumers and channel partners,” said Duffy. “Upon completion of the transaction, we will work tirelessly with the consumer audio division of Onkyo Corporation to ensure a seamless transition into the Sound United family so that all employees, customers and channel partners benefit from the enhanced breadth and depth of the new organization.”
Sound United, a DEI Holdings company, includes the Denon, Polk Audio, Marantz, Definitive Technology, Heos, Classé and Boston Acoustics brands under its umbrella.