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Gibson Buys Majority Stake in TEAC

Gibson has announced that they are expanding their interest in the pro audio world with the purchase of a majority stake in TEAC, parent company of TASCAM. Gibson has tendered an all-cash offer for 157,447,000 shares of TEAC Corporation. This will give Gibson 54.4% share of the company at a price of $52 million.

The company says that TEAC will become a member of the Gibson family of brands, joining other pro audio brands such as Cerwin-Vega, Stanton, and KRK. The addition of TEAC will also expand Gibson into the consumer-audio realm with brands such as TEAC and strategic partner Onkyo.

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