Onkyo Sale to Joint Venture between VOXX and Sharp Corporation Complete

Posted on 30th June, 2021
Onkyo Sale to Joint Venture between VOXX and Sharp Corporation Complete

VOXX International Corporation has announced that its wholly-owned subsidiary, Premium Audio Company, and Sharp Corporation have successfully entered into a joint venture to acquire certain assets of the audio/video business of Onkyo Home Entertainment Corporation.

The deal, first announced in May 2021, which Onkyo shareholders have now approved, sees the joint venture acquire the company for US$30.8 million, plus the assumption of certain liabilities and future payment of commissions to Onkyo on certain product sales. According to the press release, Premium Audio Company will own approximately 75%, and manufacturing partner Sharp will own approximately 25% of the JV.

Premium Audio Company will handle distribution worldwide and be responsible for all sales and marketing activities. Sharp, though its manufacturing facility in Malaysia, will be responsible for manufacturing. The acquisition will provide the JV with ownership of the brands, intellectual property, engineering, and manufacturing rights of the Onkyo and Integra brands. Further, VOXX International has entered into a new licensing agreement with Pioneer Corporation and per this licensing agreement, Premium Audio Company will market and sell the Pioneer and Pioneer Elite brands worldwide, excluding the Peoples Republic of China.

Onkyo markets and sells a variety of products under the Onkyo and Integra brands in home audio, lifestyle audio, hi-fi components, and speaker systems, all of which VOXX, through the joint venture between Premium Audio Company and Sharp, will now own.

Further, licensed products from Pioneer will include audio/video receivers and soundbars for home use and home-theatre systems.

Marc Rushton's avatar
Marc Rushton

StereoNET’s Founder and Publisher was born in England and raised on British Hi-Fi before moving to Australia. He developed an early love of music and playing bass guitar before discovering the studio and the other side of the mixing desk. After writing for print magazines, Marc saw the future in digital publishing and founded the first version of StereoNET in 1999.

Posted in: Hi-Fi | Headphones | Home Theatre | Industry

JOIN IN THE DISCUSSION

Want to share your opinion or get advice from other enthusiasts? Then head into the Message Forums where thousands of other enthusiasts are communicating on a daily basis.
CLICK HERE FOR FREE MEMBERSHIP

applause awards

Each time StereoNET reviews a product, it is considered for an Applause Award. Winning one marks it out as a design of great quality and distinction – a special product in its class, on the grounds of either performance, value for money, or usually both.

Applause Awards are personally issued by StereoNET’s global Editor-in-Chief, David Price – who has over three decades of experience reviewing hi-fi products at the highest level – after consulting with our senior editorial team. They are not automatically given with all reviews, nor can manufacturers purchase them.

The StereoNET editorial team includes some of the world’s most experienced and respected hi-fi journalists with a vast wealth of knowledge. Some have edited popular English language hi-fi magazines, and others have been senior contributors to famous audio journals stretching back to the late 1970s. And we also employ professional IT and home theatre specialists who work at the cutting edge of today’s technology.

We believe that no other online hi-fi and home cinema resource offers such expert knowledge, so when StereoNET gives an Applause Award, it is a trustworthy hallmark of quality. Receiving such an award is the prerequisite to becoming eligible for our annual Product of the Year awards, awarded only to the finest designs in their respective categories. Buyers of hi-fi, home cinema, and headphones can be sure that a StereoNET Applause Award winner is worthy of your most serious attention.

Licensing Information

00002937