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Gibson Guitars and TC Group to Merge

Gibson Guitars and TC Group, both leaders in professional audio, have announced that they are planning to merge. The announcement was made at the NAMM 2008 show in Anaheim by Gibson Guitar Chairman and CEO Henry Juszkiewicz and Anders Fauerskov, CEO of TC Group, which includes five individual companies including Tannoy, TC Electronics and TC-Helicon. “This merger will revolutionize the music industry for many years to come,” said Juszkiewicz. “The synergy between the two companies will allow us an enormous advantage in the development of new audio technologies and brings together two of the world’s most powerful brands.”

The announcement marks a preliminary agreement between the two companies. Under the terms of the new merger, Anders Fauerskov will remain based in Europe, and serve as Chief Operating Officer of the new combined Gibson Guitar Corp. The two companies expect to finalize the deal by the end of February 2008. The exact terms were not disclosed. “The opportunities ahead are very exciting for us,” said Fauerskov. “This merger will create exciting new opportunities for all employees within TC Group and Gibson, and in particular, fantastic new tools for our markets and customers. This partnership will allow us to expand our leadership position in the marketplace.”

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