Nashville TN-based Gibson Guitar Corp. is buying TEAC Corp. of Japan for about $52 million, continuing the company's push into the audio equipment industry. TEAC provides audio, video and data-storage equipment. According to a news release, upon completion of the acquisition, through Gibson's purchase 157.4 million shares of TEAC common stock, TEAC will become a member of the Gibson family. This will not only expand the size and reach of Gibson's Pro Audio business, with products that both complement and build upon the KRK, Cerwin-Vega! and Stanton portfolio of studio monitors, sound reinforcement equipment and DJ gear respectively, in addition to strategic partner, Onkyo Corp. but also in future product development, has the potential to add value to the Gibson MI segments, as well as the fretted instrument category.
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