Revolabs acquired by Yamaha Corporation
WORLD: Revolabs is to be acquired by Yamaha Corporation following its entry into a definitive agreement. The deal – described as allowing Yamaha to ‘further grow its enterprise presence for audio equipment’ – is expected to be concluded by the end of March 2014 after receipt of customary regulatory approvals. Under the terms of the agreement, Revolabs will operate as a wholly-owned subsidiary and ‘execute on its existing roadmap with the current management team’.
Founded in 2005 and based in the US city of Sudbury, Massachusetts, Revolabs – led by founder and CEO Jean-Pierre Carney – has carved a successful niche for itself as a provider of high-end wireless solutions, notably within the conferencing sector. During the negotiations, the company employed Moelis & Company as its exclusive financial advisor and Latham & Watkins LLP as its legal advisor.
According to Takuya Nakata, president of Yamaha Corporation, the acquisition comes as an acknowledgment of the growing importance of conferencing technology. ‘With the market for conference room equipment expected to expand worldwide, I am extremely happy to welcome Revolabs — a company that has earned a high level of trust from customers and grown rapidly in this market — as a member of the Yamaha Group,’ he commented.
The president continued: ‘Revolabs' ethos of creating products that provide value for customers with strong technical capabilities as a base meshes well with the Yamaha Group's corporate philosophy. By combining Revolabs' wireless microphone systems and wireless conference phones with Yamaha's voice communication devices and professional audio equipment, we expect to be able to create even more appealing solutions for our customers.
‘In the future we aim to accelerate our progress in expanding sales in the electronics business domain, one of the goals announced in the Yamaha Management Plan 2016, our medium-term management plan, by combining the technology and know-how of both companies.’
Revolabs’ Jean-Pierre Carney was equally enthusiastic regarding the acquisition. ‘Since we started the company in 2005, Revolabs has shown an ability to innovate and bring exciting products to the market,’ he said. ‘We've grown a strong team, have an exciting roadmap with industry-leading technology, and were already on track to more than double our revenues this year. Taking advantage of the strengths of the two companies will make our solutions stronger and expand our reach around the globe. There are a lot of great synergies between Yamaha and Revolabs, and our customers will receive the most benefit from this merger.’