The Yamaha Corporation has confirmed that it is to acquire Line 6, Inc. The acquisition expands Yamaha’s portfolio of modelling processing in musicians applications.
Under the terms of the agreement, Yamaha will operate Line 6 as a wholly owned subsidiary ‘to fully realise the compelling opportunities for the two brands with Line 6’s operations continuing as before and its management team remaining in place’.
‘We look forward to accelerating our growth strategy by pursuing the beneficial effects from both companies and by using Line 6’s core brand power centred on guitarists that is so highly regarded worldwide as well as its unique technology, planning and development capabilities,’ said Yamaha Corporation President, Takuya Nakata.
‘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,’ sais 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.’
Based on the resolutions adopted by the Line 6 Board of Directors on 19 December and the Yamaha Board of Directors on 20 December, a definitive agreement has been executed regarding the acquisition of all of the capital stock of Line 6. Yamaha will acquire all of the capital stock of Line 6 owned by the founders, venture funds and employees.
The transaction is expected to be completed during January 2014 after receipt of customary regulatory approvals.
