History’s biggest Hi-Fi merger has been cancelled!
Pioneer and Onkyo were to join forces with Denon and Marantz, and become a giant in the hi-fi world. Now they are blowing a long march throughout the deal.
In May 2019 we could announce that sweet music had emerged between Pioneer / Onkyo and Sound United, the owner company behind Denon and Marantz.
The plans were ambitious and should result in more innovation and even more quality audio / video products.
Specific product plans included wireless, voice-controlled speakers and soundbars, which could be included in the well-known HEOS system (Denon and Marantz’s own multi-room platform and Sonos competitor).
Thus, it seemed that some of the hi-fi history’s most well-known and popular hi-fi brands would fall under the same umbrella, completed by November 30 this year.
On the basis of Onkyo’s press release, there seems to be uncertainty during the due diligence and securing of financing which means that the agreement cannot be completed within the deadline.
Onkyo does not rule out that a similar agreement can be resumed at a later date. But until further notice, time to return to “business as usual” for the traditional brand names.
Source: Onkyo press release.