Gibson Guitar To Merge With TC Group

ANAHEIM, CA--At the NAMM show last month, Gibson Guitar and TC Group announced a plan to merge. Under the terms of the merger, Anders Fauerskov will remain based in Europe, and serve as COO of the new combined Gibson Guitar Corp. The two companies expect to finalize the deal by the end of February 2008. Terms of the deal were not disclosed.

"This merger will revolutionize the music industry for many years to come," said Henry Juszkiewicz, chairman and CEO of Gibson Guitar. "The synergy between the two companies will allow us an enormous advantage in the development of new audio technologies and brings together two of the world's most powerful brands."

"The opportunities ahead are very exciting for us," said Anders Fauerskov, CEO of TC Group. "This merger will create exciting new opportunities for all employees within TC Group and Gibson, and in particular, fantastic new tools for our markets and customers. This partnership will allow us to expand our leadership position in the marketplace."

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