Last month, Shure acquired CA-based Midas Technology, Inc.—also known as Stem Audio—which specializes in providing a suite of products including table, ceiling, and wall microphones as well as loudspeakers, control interfaces, and hubs.
AVNetwork sat down with Chris Schyvinck, Shure's president and CEO, to discuss the acquisition and what this means for the future of both companies.
AVN: What attracted Shure to Stem Audio?
CHRIS SCHYVINCK: As Shure builds its capabilities as an audio ecosystems provider, we knew that Stem Audio would help us provide customers and channel partners with better options to deploy great audio in more spaces, more cost effectively, and more quickly. This is a win-win for customers and channel partners.
For end customers, it will provide a greater choice of products from a single vendor, with Shure’s award-winning support and service. This is an attractive growth market, creating new opportunities for channel partners to have a one-source solution for every type of space.
AVN: What new solutions will Stem Audio bring to Shure's customers?
CS: This deal creates new possibilities. Both organizations will have the opportunity to evolve their product roadmaps and bring exciting new solutions to market in the future.
Stem Audio offers a suite of new products including table, ceiling and wall microphones as well as loudspeakers, control interfaces, and hubs. It complements Shure’s product offering and provides customers with a greater choice of products as their needs evolve. Stem Audio specifically addresses the needs of customers who are looking for time- and cost-effective ways to integrate quality conference room audio solutions in their facilities.
The company does this by providing flexible solutions that can be mixed and matched to best fit the users’ room and needs. Stem Audio products will provide comprehensive design, testing, customization, and remote management tools that round out their hardware offering and make the process of new technology adoption seamless for the user.
AVN: How will you merge two company cultures?
CS: Both companies focus on customer satisfaction. Stem Audio has developed a proven business model that meets the needs of specific customers. Shure has continued to evolve its systems business to meet changing customer needs. Our cultures both reflect our commitment to the market, quality products, and strong values.
AVN: What can integrators expect from this acquisition in the next six months?
CS: Shure and Stem Audio are excited about working together. We are discussing several integration plans and will be sharing more information as those plans evolve.
AVN: Anything else you'd like to add?
CS: We know this acquisition is a great fit for both organizations. Stem created its product line by doing a deep-dive into customer needs, generating the kind of insight that only comes from extended observation, experience, and an open mind. This clicked with us because that’s how Shure’s greatest successes have been created, too. We are like-minded in driving innovation in ways that will give users a better overall experience. Our shared passion for delivering smart solutions to customers makes the two companies an ideal collaboration.