B&W sold, DOES NOT include Rotel

[Woo Wooooo]

Great...... http://www.bloomberg.com/news/articl...valley-startup

[Audio_ElF]

Great...... http://www.bloomberg.com/news/articl...valley-startup

Where does it say anything about Rotel. Unless things have changed in the last 6 months, Rotel are an independent family owned company who work closely with Bowers and Wilkins but are not part of the B&W Group.

[Woo Wooooo]

Where does it say anything about Rotel. Unless things have changed in the last 6 months, Rotel are an independent family owned company who work closely with Bowers and Wilkins but are not part of the B&W Group.

http://www.whathifi.com/news/bowers-wilkins-sold-to-silicon-valley-start-undisclosed-sum

The 50-year-old British speaker specialist Bowers & Wilkins has been sold to a Silicon Valley start-up founded by a former Facebook executive – and it looks like a multi-room music system could be in the pipeline.

Joe Atkins, B&W's CEO and a majority stakeholder in the business, has sold the 1000-strong UK speaker company to Eva Automation. Eva was founded in 2014 by Gideon Yu, a former Facebook chief financial officer and venture capitalist, and the current co-owner of the San Francisco 49ers. Apparently Atkins and Yu met just 30 days ago.

Atkins will remain as CEO of Bowers & Wilkins and will work closely with Eva and Yu "to continue to develop B&W's position as a world-class, highly integrated AV company". Yu will become B&W's executive chairman. The deal also includes sub-brands, Rotel and Classé.

Yu and Atkins say there will be no staff cuts at B&W, and it will continue to sell its current range of products - and in time new ones - under the Bowers & Wilkins brand name.

In a statement issued today, Yu added: “Bowers & Wilkins brings an incredible brand, experienced and well respected team and commitment to making high-end audio equipment of unmatched quality. We at Eva share their same product vision and passion for home entertainment and look forward to creating fantastic home AV experiences together as one combined company.”

According to Bloomberg, Eva Automation has raised $20m of funding but has not yet made a physical product, although it was set up to develop - among other things - a multi-room audio/video system and has been looking for a suitable audio company to partner with.

So, who is Eva Automation? The company’s website claims the company is “reimagining the audio/video experience by making products that will change how people interact and think about the home. We are passionate about home entertainment and creating easier and better ways for people to use the products they love.”

A multi-room B&W system, then? In an interview with CEPro, Yu seemed to confirm as much. “What I want for my own living room has not been created,” he said. “There’s components, like some good interfaces and really good high-end audio/video. If I could buy it, I would, but it hasn’t been created.” Watch out Sonos and Bluesound.

Yu also suggested we needn’t worry about audio quality dropping down the priority list. “You won’t see any changes whatsoever in audio quality. We plan to invest in quality. Otherwise, why would we acquire B&W? All we want to do is find a way to deliver the next level of user experience that meets the quality expectations of the B&W customer,” Yu told CEPro.

Interesting times, then. And hopefully some reasons to be positive about the future of a legendary English hi-fi company.

B&W was founded in Sussex, England in 1966, and the company still has a factory in Worthing.

[Patrick Butler]

Hi Woo Wooooo,

The deal includes the distribution of Rotel (that's what B&W Group does for Rotel,) but not the purchase of Rotel. Rotel is still a family owned concern.

Regards,

Patrick Butler
B&W Group North America

http://www.whathifi.com/news/bowers-...ndisclosed-sum


The 50-year-old British speaker specialist Bowers & Wilkins has been sold to a Silicon Valley start-up founded by a former Facebook executive – and it looks like a multi-room music system could be in the pipeline.

Joe Atkins, B&W's CEO and a majority stakeholder in the business, has sold the 1000-strong UK speaker company to Eva Automation. Eva was founded in 2014 by Gideon Yu, a former Facebook chief financial officer and venture capitalist, and the current co-owner of the San Francisco 49ers. Apparently Atkins and Yu met just 30 days ago.

Atkins will remain as CEO of Bowers & Wilkins and will work closely with Eva and Yu "to continue to develop B&W's position as a world-class, highly integrated AV company". Yu will become B&W's executive chairman. The deal also includes sub-brands, Rotel and Classé.

Yu and Atkins say there will be no staff cuts at B&W, and it will continue to sell its current range of products - and in time new ones - under the Bowers & Wilkins brand name.

In a statement issued today, Yu added: “Bowers & Wilkins brings an incredible brand, experienced and well respected team and commitment to making high-end audio equipment of unmatched quality. We at Eva share their same product vision and passion for home entertainment and look forward to creating fantastic home AV experiences together as one combined company.”

According to Bloomberg, Eva Automation has raised $20m of funding but has not yet made a physical product, although it was set up to develop - among other things - a multi-room audio/video system and has been looking for a suitable audio company to partner with.

So, who is Eva Automation? The company’s website claims the company is “reimagining the audio/video experience by making products that will change how people interact and think about the home. We are passionate about home entertainment and creating easier and better ways for people to use the products they love.”

A multi-room B&W system, then? In an interview with CEPro, Yu seemed to confirm as much. “What I want for my own living room has not been created,” he said. “There’s components, like some good interfaces and really good high-end audio/video. If I could buy it, I would, but it hasn’t been created.” Watch out Sonos and Bluesound.

Yu also suggested we needn’t worry about audio quality dropping down the priority list. “You won’t see any changes whatsoever in audio quality. We plan to invest in quality. Otherwise, why would we acquire B&W? All we want to do is find a way to deliver the next level of user experience that meets the quality expectations of the B&W customer,” Yu told CEPro.

Interesting times, then. And hopefully some reasons to be positive about the future of a legendary English hi-fi company.

B&W was founded in Sussex, England in 1966, and the company still has a factory in Worthing.

[Alaric]

Now we can move on the questions about Classe, which is owned by B&W. A simple edit of the thread title will fix it. And start a whole 'nother line of panic. LOL

edit: Thanks, Patrick!

[Woo Wooooo]

Thanks for clarifying... just reporting what I read and yes I know you can't always believe everything.....

[Alaric]

Thanks for clarifying... just reporting what I read and yes I know you can't always believe everything.....

LOL. Bringing news to the community is a good thing. I thought the same thing but I didn't see the thread until after Patrick had responded. It still leaves some anxiety. Just put "Classe" where Rotel was. It will be interesting to see what happens. I know they say "Nothing will change!", but that's a common refrain right before everything change.

[Patrick Butler]

Hi Alaric,

I don't feel any anxiety about the purchase. We've had plenty of suitors over the years waving around large checks, but they were not good for the brand. Selling a business is one thing. Selling it to someone who understands the brand (what makes it special, what makes it tick) is an entirely different matter if you are interested in turning a 50 year-old brand into a 75 year-old brand.

Knowing the situation a bit more intimately, I'm confident in the future and what it means for Bowers & Wilkins and Classé.

Regards,

Patrick Butler
B&W Group North America

LOL. Bringing news to the community is a good thing. I thought the same thing but I didn't see the thread until after Patrick had responded. It still leaves some anxiety. Just put "Classe" where Rotel was. It will be interesting to see what happens. I know they say "Nothing will change!", but that's a common refrain right before everything change.

[Alaric]

Oh, I was curious but not very worried. The interviews of Mr. Atkins I've read seem to indicate a great passion for audio in general, and B&W in particular. I really don't imagine anything will change for the worse. The buyer is somewhat of a surprise but the seller is more of a known quantity. LOL.

Thanks for handling these questions at HTG, Patrick. B&W's attention to their customers, witnessed by your regular participation here, is one of the things that continues to impress.