CALABASAS, Calif. – December 20 2013
- Yamaha Corporation and Line 6, Inc. today announced a definitive
agreement for Yamaha to acquire Line 6, a leading manufacturer of
innovative solutions for musicians.
The acquisition expands Yamaha’s portfolio of modeling guitar
processing products as well as pro-audio equipment, and offers new and
exciting opportunities for accelerated growth for both companies.
Line 6 products have
been at the cutting edge of digital audio development for musicians and
audio professionals since the company pioneered the digital modeling
guitar amplifier in 1996. Line 6 continues to
deliver innovation and excellence across its industry-leading
portfolio, including POD® multi-effect processors, digital effects,
guitar amplifiers, modeling guitars, a range of professional instrument
and microphone digital wireless systems, digital live
sound mixers, speakers, as well as iOS interfaces.
Under the terms of the
agreement, Yamaha will operate Line 6 as a wholly owned subsidiary to
fully realize the compelling opportunities for the two brands with Line
6’s operations continuing as before and its
management team remaining in place.
“I am very happy that
Line 6, which has been creating innovative products and creating new
market opportunities consistently over its history, will become a member
of the Yamaha group. We look forward to accelerating
our growth strategy by pursuing the beneficial effects from both
companies and by utilizing Line 6’s core brand power centered on
guitarists that is so highly regarded worldwide as well as its unique
technology, planning and development capabilities” said
Mr. Takuya Nakata, President of Yamaha Corporation.
“For over 30 years of
developing products, and even further back to my earliest memories as a
developing musician, Yamaha has been the brand for which I have always
had the most respect,” said Line 6 co-founder
and Chief Strategy Officer Marcus Ryle. “Yamaha has consistently set
the standard in our industry for quality and innovation, and I am very
proud for Line 6 to now be a part of this incredible legacy.”
of Line 6 will help accelerate the realization of our vision to drive
innovation for musicians across the globe,” said Line 6 CEO and
President Paul Foeckler. “We’re proud that Yamaha recognizes
the innovation and value in our people, IP and processes and we’re
excited about the opportunities ahead to expand our reach”
Outline of agreement
1. Based on the
resolutions adopted by the Line 6 board of directors on December 19 and
the Yamaha board of directors on December 20, a definitive agreement has
been executed regarding the acquisition of all
of the capital stock of Line 6.
2. Yamaha will acquire all of the capital stock of Line 6 owned by the founders, venture funds and employees.
3. The transaction is expected to be completed during January 2014 after receipt of customary regulatory approvals.
Securities, LLC served as financial advisor to Line 6, Inc. and Kirkland
& Ellis LLP served as legal advisor to Line 6, Inc.
About Line 6 Inc.
Since 1996, Line 6 has
led the convergence of digital technology and musical creativity by
designing award-winning, innovative products that inspire modern
musicians. Full-featured and easy to use, their products
serve customers’ traditional needs while exploiting the latest
technological advances that expand their creative possibilities. With a
long-history of firsts, Line 6 has a proven track-record of creating
category-defining products. From the first modeling
amplifier to POD, Variax modeling guitars through to their latest
groundbreaking live sound products StageScape, StageSource and digital
wireless microphones. Line 6’s designs continue to inspire musicians to
create, perform, record and share in ways never
thought possible. Adding to a long list of accolades, Line 6 was
nominated for four 2014 TEC Awards and previously received the 2013 TEC
Award for its POD® HD Pro and the NAMM 2013 Best In Show “Company To
Watch” Award. For more information, visit line6.com.