MUSIC Group has announced their acquisition of TC Electronic. The company, based in Philippines, already owns Bugera, Behringer, Midas, Klark Teknik and Turbosound, and the addition of the TC Group will see them add TC Electronic, TC-Helicon, Tannoy, Lab.gruppen and Lake to their portfolio.
MUSIC Group founder and CEO Uli Behringer commented, "MUSIC Group stands for relentless focus on innovation, business transformation and overall IP creation. Since the acquisition of Midas, Klark Teknik and Turbosound, we have been continuously pursuing brands that complement the mixing console, processing and loudspeaker excellence offered by these historic brands. Throughout our search, TC Group has clearly stood out as the ideal match because of their world-class brands, impressive intellectual property, sterling reputation and first-class team of people. I am very proud to welcome the TC Group team into our family."
TC Group's CEO Anders Fauerskov responded, "We are very honored that during the acquisition process, some of the largest industry players were bidding for TC Group; however we have selected MUSIC Group as they represent the perfect fit in terms of strategic direction, overall synergies and company culture. Our team is thrilled to join MUSIC Group and open a new chapter for TC Group and its prestigious brands. With the incredibly talented people and massive resources of the MUSIC Group behind us, the team is excited to enter a new era of unprecedented innovation and growth."