Midas/KT acquisition generates phenomenal industry interest15 December 2009
UK: The PSNE website received more than 5,400 hits in the hours after it broke the largest industry story of recent years, writes David Davies. The announcement on Tuesday that Midas and Klark Teknik had been acquired by the Music Group – owner of Behringer – ended a period of speculation about the future of the distinguished UK-based brands.
As postings on various pro-audio discussion sites made clear, the identity of Midas/Klark Teknik’s purchaser came as a surprise to many observers. In literally hundreds of messages, the implications of the deal were explored from every conceivable angle.
"The interest in this deal is really without parallel in recent pro-audio history," believes PSNE editor Dave Robinson. "The extent to which this announcement has been debated underlines the high regard that many people in the business have for the Midas and Klark Teknik brands."
All 106 Midas/KT employees are transferring to the Music Group, which is managed by Michael Deeb and Uli Behringer, who said that he was "thrilled and honoured to join with John Oakley and his team in taking these legendary brands forward. I have immense respect for the dedication to quality, performance and customer service that this team has shown consistently over the years. While we plan to invest considerable resources and support to these brands, we also look forward to learning from the achievements of their engineers and working with them to get Behringer to a new level."
In a subsequent statement that acknowledged the "phenomenal response" to the news, Midas/KT confirmed that its existing distribution companies remain in place, and that its brands will not be available through any other channels.
"Over the last five years we have secured the industry’s leading professional audio distribution channels to ensure that Midas and Klark Teknik customers in each territory get the same standard of support that our award-winning team provides in the UK," said Midas sales and marketing director David Cooper (pictured here, right, with MD John Oakley). "It’s a great time to be a Midas customer. This deal ensures that our long-term distribution partnerships will get stronger and the investment of Midas’ customers is not only protected but enhanced."
The acquisition will complete what has, by any standard, been a highly eventful year for Midas and its personnel. Following its launch at PLASA08, the PRO6 Live Audio System has racked up a series of high-profile live credits, including Snow Patrol and the Glastonbury Festival. New distribution arrangements for the UK, USA and Canada were announced in July, while in September Alex Cooper was awarded the 2009 Gottelier Award for A/V technology innovation.
PSNE anticipates further comment from the Music Group’s Uli Behringer and Midas’ John Oakley soon.