Panamax Acquires Furman Sound
Feb 23, 2006 4:55 PM
Over 60 years of power engineering are about to come together in Petaluma, Calif. Panamax has acquired Furman Sound in a move that will complement each other’s offerings and expand the growing family of companies in the Home Technology Group of Linear (Carlsbad, Calif.). No terms of the purchase were disclosed.
“My team and I are excited about the growth potential for both companies that this engineering partnership will allow,” says Bill Pollock, president of Panamax. “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.”
“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, ” says Grant D. Rummell, chairman of Linear.
“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,” says 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, postproduction, broadcast systems, telecommunications, and data processing. The company expanded its product line and market segment in 2001 to include what has become a highly acclaimed CE line which incorporates a complete line of AC power management products specifically engineered for today’s home theater systems.
Panamax makes a wide range of innovative and award winning power conditioning products for home theater electronics, high definition cable and satellite TV systems, household appliances, office equipment, and related electrical systems. The Max home theater component family of products is its flagship line that provides clean power and improves picture quality. The patented Max In-Wall brand is its line of superior design, easy plug-in panels for code-compliant installation of plasma screen TVs.