The acquisition will allow Primax to expand its presence in the digital audio marketplace while strengthening Tymphany's production and design capabilities.
Sausalito, CA - October 16, 2013 - Tymphany HK Ltd., the leading expert in transducer and audio system design and manufacturing, announced today that Primax Electronics Ltd. will purchase a majority share of the company. As an original design manufacturer (ODM) for industry-leading audio brands, Tymphany brings world class expertise in acoustic systems design to Primax. The acquisition will help Primax expand its presence in a growing digital audio marketplace that includes Bluetooth speakers, digital music players, wireless audio solutions and more.
Tymphany will continue to operate as an independent company in the Primax family, and retain its existing management, work force and partner relationships. Tymphany will benefit from the extensive technology offerings and manufacturing capabilities at Primax.
"We believe the combined strength of the audio and acoustic technology of Tymphany and the wireless and electronics manufacturing expertise of Primax will put us in the leading position of serving the needs of the digital audio industry," said Raymond Liang, Chairman and CEO of Primax.
The Taiwan-based Primax is the world's largest PC peripheral equipment manufacturer. With the acquisition, Primax also gets a majority stake in several factories and R&D centers in South China as well as the productivity of 2,500 Tymphany employees spread throughout China, Europe and the U.S.A. The acquisition is expected to be completed before the end of 2013 after the necessary regulatory approvals are secured.
"Primax is a great cultural and practical fit with Tymphany and we are very excited about the potential of this alignment for our employees and partners," said Ed Boyd, Chief Executive Officer of Tymphany. "This new relationship represents a meaningful step up in the level and type of service Tymphany can provide."
For more information, please visit www.tymphany.com.
About Primax Electronics Ltd.
Primax Electronics Ltd. is an electronics manufacturing company based in Taipei Taiwan with manufacturing plants and R&D centers in China and Taiwan. It has been supplying PC peripherals, accessories for smart phones/tablets and multifunction printers to the IT industry in the past 29 years. It is listed in the Taiwan Stock Exchange.
Founded in the U.S. in 2002, Tymphany™ Corporation is a global leader in the design and manufacturing of premium quality, digital electronics systems for the loudspeaker industry. Tymphany is an indispensable ODM partner to many of the world's leading consumer electronics, automotive and professional audio brands, combining advanced digital circuit design and premium analog speaker components to achieve the highest level of audio performance. The company delivers a wide range of turnkey solutions within its transducers and integrated sound systems portfolio, including Peerless, a world-renowned brand of transducers since 1926. Tymphany is a privately held corporation. More information about the company is available at www.tymphany.com.