Marantz and Denon to merge

Marantz and Denon are set to merge operations, creating a global leader in the premium audio-video consumer electronics industry.

The merger is expected to be completed by May 2002. The new company, D&M Holdings, will employ approximately 1,650 people globally.

Commenting on the deal, Tatsuo Kabumoto, CEO of Marantz stated, "The combination of Denon and Marantz, backed by world class companies like Ripplewood Holdings and Philips, establishes a platform on which we intend to build the world class company in the premium audio visual space."

Mitsushige Sakamoto, CEO of DENON said, "leveraging the synergies of the merger and integrating DENON's digital A/V technology with Marantz's video and wireless technology, D&M Holdings will secure its position as a leading competitor in the home theatre market."