D&M Holdings Inc. has announced the completion of the acquisition of Calrec Audio Ltd., a designer and manufacturer of premium audio products and live-to-air consoles for the broadcast market.
The acquisition will be accretive to earnings per share in 2008.
"The acquisition of Calrec is an important step in our stated growth strategy to expand into new markets, specifically commercial audio/visual," said D&M Chairman and CEO Eric C. Evans. "With Calrec, we're adding another premium brand to the D&M family — one that places us firmly in the broadcast market and serves the most prominent customers throughout the world such as the BBC, ITV, NBC, CBS, Fox, MBS and Asahi."
Evans said the D&M business platform will allow Calrec to continue to perform at the highest levels while staying true to the uniqueness that has led to its past success.
"By becoming part of D&M, Calrec is better positioned to further develop their technology and expand its global reach," said Evans. "We're taking action today with the acquisition of Calrec and will continue to seek additional opportunities in support of our growth strategy."
The financial impact of the acquisition will be addressed in D&M's fiscal year 2007 full year forecast.
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