The deal, which is said to be worth over $1.03 billion, will see the Irvine-based company leveraging Sound United's expertise in consumer electronics and global distribution to expand its own consumer products business. Sound United's brand portfolio includes Bowers & Wilkins, Denon, Polk Audio, Marantz, Definitive Technology, Classé, and Boston Acoustics.
Masimo said it was attracted to Sound United's global distribution across online, retail and custom installation channels, a cloud-connected home ecosystem, and state-of-the-art R&D function focused on creating the highest-quality consumer products with world-class industrial design.
Masimo Founder, Chair & CEO Joe Kiani commented:
I have long been a fan (and proud owner) of Sound United's iconic brands and am honored to steward them through the next generation of technological evolution. Masimo shares Sound United's commitment to providing innovative, best-in-class products and experiences, with a relentless focus on improving the consumer experience.
Kevin Duffy, CEO of Sound United, added:
We're excited about this transaction and see significant potential in combining our expertise in consumer electronics and audio engineering with Masimo's strengths in healthcare and monitoring. With our track record of industry-first innovation, best-in-class products, and a global distribution network, we are the ideal partner for Masimo to transform the consumer healthcare experience.
The transaction is expected to close near the middle of 2022, subject to the receipt of regulatory approvals and other customary closing conditions.
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