Premium Audio Company (PAC) and Sharp Corporation have created a joint venture and acquired Onkyo’s home audio and video business, which includes the Onkyo and Integra brands.
PAC now owns around 75% of the newly created joint venture and will manage all product development, engineering, sales, marketing and distribution of Onkyo’s home entertainment business.
Sharp will continue to manufacturer products in the Malaysian plant and focus on scaling its manufacturing lines and managing the supply chain to handle more anticipated production volume.
PAC’s parent company, VOXX International has also signed a licensing agreement with Pioneer Corporation. PAC will market and sell the Pioneer and Pioneer Elite audio and video solutions worldwide, excluding China, with manufacturing done by Sharp.
“Premium Audio Company, VOXX, Onkyo and Sharp worked together to complete a complicated asset acquisition,” PAC president and CEO, Paul Jacobs said.
“It is a strong statement about the power of this newly formed alliance. Combining the number one speaker brand in the world with the most technically sophisticated Japanese electronics brands ushers in a new era of design, innovation, and performance.
“We look forward to another 75 years of creating industry-leading products, profitability for our partners, and connecting people to their passion for entertainment.”