Announcement of Interest Acquisition of Sound-Service Musikanlagen-
Vertriebsgesellschaft mbH (Sound Service)
March 15, 2022
ZOOM CORPORATION
We, ZOOM CORPORATION(Head office: Tokyo, Japan; CEO: Masahiro Iijima) are pleased to announce the signing of a Letter of Intent with Joachim Stock Holding GmbH to make Sound Service a subsidiary company of ZOOM in January 2023.
Sound Service has been appointed the exclusive distributor of ZOOM in Germany, Austria, and Benelux (Central Europe) for around 30 years and more recently extended in Eastern European countries and in the UK.
The growth of Central Europe market has been remarkable and reached 15% of ZOOM's consolidated sales in 2021. This acquisition is expected to be completed by January 2023. We believe that we together can make the ZOOM brand more valuable, develop a more powerful marketing strategy and contribute to expand our ZOOM products' sales network across Europe.
Outline of Sound Service
Now, as of March 15, 2022 | Expected in January 2023 | |
1.Company's name | Sound-Service Musikanlagen- | Unchanged |
Vertriebsgesellschaft mbH | ||
2.Location | Pariser Straße 9, D10719 Berlin, | Unchanged |
Germany | ||
3.CEO | Joachim STOCK | Unchanged |
4.Members and | Joachim Stock Holding GmbH | ZOOM CORPORATION 51% |
Membership Interest | 100% | Joachim Stock Holding GmbH |
49% | ||
The purchase price shall be determined based on the company valuation and appropriate due diligence procedures.
For further information, please visit our website https://www.zoom.co.jp/
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Zoom Corporation published this content on 15 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2022 06:59:04 UTC.