07.19.2005 11:26 AM
Yamaha, NEXO sign joint venture
Yamaha has acquired 10.22 percent of NEXO’s common shares.
The deal creates a synergy between Yamaha’s presence in live sound mixers and amplifiers, and NEXO’s strength in live sound speaker systems and arrays. The share sales/purchase transaction was completed June 24.
As a result of this share purchase, Yamaha will become the third largest shareholder of NEXO. Yamaha will take over the company’s U.S. distribution, and through its Commercial Audio Systems Division, will be in charge of distributing NEXO speakers in the U.S.
Yamaha and NEXO also announced plans to jointly develop a variety of future products.
For more information, visit www.yamaha.com.
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