Petaluma, CA–Panamax (founded 1975) has acquired Furman Sound Inc. (founded 1974), in a move that will complement each others offerings and expand the growing family of companies in the Home Technology Group of Linear LLC (Carlsbad, California). No terms of the purchase were disclosed.
Panamax president Bill Pollock said that he looks forward to combining the technical talents of both companies. My team and I are excited about the growth potential for both companies that this engineering partnership will allow,” he said. “We believe that the advantages of a strong group, especially one with world-class engineering and electronics manufacturing operations, will increase our ability to bring new and innovative products to our global customer base. As a privately held, 30-year-old company Panamax has always been responsive to changes in our economy, customers and product environment. Bringing these two leaders together under one roof, will allow us numerous opportunities to help our customers grow profitable businesses.
Widely known for its AC power conditioning and distribution products, Furman also makes audio and video signal processors, a line the company was founded upon in 1974.
According to Grant D. Rummell, chairman of Linear, Furman is a great fit within our Home Technology Group. Its offerings neatly dovetail with those of Panamax and expand our reach beyond the residential market and into the music industry.
Our technologies and products are very complementary, and that means we will be in a position to give our customers exactly the right solutions for their particular needs, said Dave Keller, executive vice president of sales and marketing for Furman. The bringing together of Furman and Panamax is a perfect marriage.
Furman Sound was founded on sales of high-quality audio and video signal processors for professional audio/video products including sound reinforcement, home and professional recording, post production, broadcast systems, telecommunications, and data processing. They expanded their product line and market segment in 2001 to include a CE line which incorporates AC power management products specifically engineered for today’s home theater systems.