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VOXX Finally Speaks: We Have an Agreement to Purchase Only Onkyo

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onkyo logo

Well after much coverage on the VOXX/Onkyo deal by Strata-gee, in which VOXX remained strangely silent, the company finally issued a press release today in which they acknowledged that they had signed an asset purchase agreement (APA) with Onkyo for $30.8 million. The deal remains subject to approval by Onkyo shareholders in a vote scheduled to take place on June 25, 2021.

This news was likely not a surprise to Strata-gee readers. But what was a surprise is that this purchase does NOT include the Pioneer and Pioneer Elite brands.

See more on the latest news out of VOXX about Onkyo

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Bryston Partners with Azione Unlimited

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Bryston's logo

Bryston Ltd., a well-regarded manufacturer of high-end audio and home theater gear, announced on Wednesday that it has partnered with Azione Unlimited, a nationwide buying group of integrators. The move looks to expand their potential network of dealers here in the U.S.

See more on this Bryston and Azione partnership

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SnapAV Says Latest Control4 OS 3.2.2 Update Offers Full Support of OvrC

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Control4 and OvrC

SnapAV announced today (Tuesday) that its latest rendition of its automation brand Control4’s OS 3 operating software – OS 3.2.2 – finally introduces full support of the company’s popular OvrC remote management platform. No doubt part of their ongoing integration strategy since they first acquired Control4, this news is sure to make life just a little easier for their Control4 dealers who support OvrC.

See more on Control4’s OS 3.2.2 & OvrC

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Onkyo Directors Vote to Authorize the Sale of the Company in $30.3M Deal

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On Wednesday, at a specially convened meeting of the Board of Directors for Onkyo Home Entertainment Co. Ltd. (Onkyo), company directors formally voted to authorize the transfer of Onkyo’s home AV division to the partnership of VOXX, Intl. and Sharp Corporation, in a deal valued at $30.3 million. The transaction is pending shareholder approval. This development represents real progress on a deal that had appeared to be bogged down recently.

See more on this deal as it gets back on track

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Sony Doubles-Down on Transformation from CE to Gaming, Media, & Services

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sony invests

Company Plans to Invest $18 Billion in ‘Strategic Investments’; See What Segments are Targeted

Sony Group announced yesterday that it will invest no less than ¥2 trillion ($18 billion) over the next three years to turbo-charge the company’s transition from a consumer electronics powerhouse to a global leader in gaming, media, and services. The only hardware they are looking to equally dominate is the sensor business – and a potential entry into the general chip-making business (more on this later).

More on the remarkable Sony global transformation

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Onkyo Releases Final Fiscal 2021 Numbers and I Am Stunned

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Onkyo Classic OCP-1
Is this the future of Onkyo?

I recently told you that the Onkyo & VOXX/Sharp deal has been delayed from a firm May 20th date to sign a definitive agreement, to a more hazy “sometime” in late May, according to an announcement released by Onkyo to investors in Japan. At the same time the company put that announcement out, they also released the final numbers for their fiscal 2021 results – the fiscal year ending March 31, 2021. The only way I can characterize these numbers is to say that they are…in a word…stunning.

See the Onkyo results for fiscal 2021…

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Oh-Oh: Deadline for Onkyo & VOXX Agreement Passes with No Deal

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Onkyo web page
From Onkyo’s website…

BREAKING NEWS

Oh-oh! I thought today I would be confirming that the VOXX/Sharp/Onkyo definitive agreement – which was supposed to be concluded today, May 20, 2021 – was in fact fully executed as directed in the original tentative agreement. But instead, I have learned that the definitive agreement for this sale was NOT in fact signed today, as dictated in the preliminary agreement. Now what?

Is There Trouble in Osaka for Onkyo?

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IFA, a September Tech Trade Show, is Now Cancelled

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IFA homepage

What’s this? A tech industry trade show, scheduled to take place in September is cancelled? Yes, it’s true…but it’s not the CEDIA Expo. In fact, it is IFA, a large consumer and trade tech show in Germany that is said to be the world’s largest tech exposition. Promoters have decided to cancel the live event due to continuing uncertainties surrounding COVID.

What does the IFA cancellation mean for CEDIA Expo?

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U.S. ITC Launches Massive Investigation of Certain TVs, Remotes & Components

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Roku homepage

Broad Implications of Roku, Inc. v. Universal Electronics, Inc.

The U.S. International Trade Commission (ITC) has launched a massive investigation into a wide range of televisions, remote controls, and other components that is sure to rattle a few cages around the industry. The investigation is the result of a patent infringement action taken by Roku, Inc. (Roku) against Universal Electronics, Inc. (UEI) and a long list of UEI customers and associates back in April. At the same time that Roku filed their lawsuit in a California District Court, they also filed a complaint with the ITC alleging Section 337 violations (“unfair imports”) by the same long list of prominent players in electronics.

See more on the Roku / ITC investigation

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Housing Starts Stall in April

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housing construction

In yet another sign that the increasing momentum down the path to economic recovery will still be a very bumpy journey, residential housing construction starts (housing starts) in April showed declines in both the overall reading for all types of homes as well as for single-family homes. While both showed double digit declines in the initial report for April, they are both still well over the readings experienced in April 2020, at the height of the rollout of the COVID-19 pandemic.

See the latest data on housing starts in April

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