BUENA PARK, Calif. ─ Yamaha recently completed its first step of the acquisition of NEXO by purchasing all shares of the two founders. On June 19, Yamaha Corporation announced its intention to acquire NEXO SA, French manufacturer and seller of professional acoustic speaker systems. Yamaha is scheduled to launch a tender offer for the remaining shares of NEXO on the open market in September, with the objective of acquiring 100% of the company's shares.
The decision to purchase NEXO follows the strategic alliance between the two companies, which transpired in 2005. Immediately after the decision to purchase NEXO, Yamaha Corporation made an offer to purchase the shares of the two founders who are also the principal shareholders.
Following the completion of the acquisition of the founders’ shares at a meeting of the NEXO board of directors, the board unanimously elected as its new chairman and CEO, Keisuke Kobayashi of Yamaha Corporation Japan (former head of Commercial Audio, deputy general manager at Yamaha’s PA/DMI Division, and director of NEXO).
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