- BUENA PARK, CA-Yamaha Corporation Japan will make an offer to the founders of NEXO to acquire all of their shares of the company.
- In June 2005, Yamaha purchased a 10.22 percent interest in NEXO, a manufacturer of high-output speaker systems for professional use, and entered into a strategic alliance with the company. NEXO and Yamaha combined their know-how to develop the NXAMP powered digital TD controller, and have strengthened their capabilities for providing better system solutions for their clients.
- "The offer to purchase NEXO by our parent company Yamaha Corporation Japan is a very positive move for both companies," states Larry Italia, vice president/general manager, Yamaha Commercial Audio Systems. "Right now, it is business as usual for us, our dealers and our customers."
- Yamaha decided its joint activities with NEXO would generate results at a substantially accelerated pace if the two companies could work in closer cooperation. Accordingly, Yamaha decided to take steps toward making NEXO a wholly owned subsidiary of the Yamaha Group by offering to acquire the shares of the founders and, thereafter, launching a tender offer to acquire the remainder of NEXO's shares on the market. If agreed upon, the sale would be concluded later this year.
