DAndMHoldings
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Sonos sues Denon for allegedly copying its wireless speaker tech
If you thought Denon's Heos wireless speakers were a little too similar in purpose to Sonos' range, you're not alone. Sonos has sued D&M Holdings (the company that owns Denon) for allegedly violating "at least" four patents. The audio gear maker accuses the Denon team of making "little to no effort" to distinguish its speakers -- while they look different and have more inputs, the core concept is supposedly the same. Sonos says it's only asking for Denon to come up with "new ideas," and won't chase after royalties if the two sides can reach an agreement. It's not clear whether or not Denon plans to fight back, but it tells VentureBeat that it takes the lawsuit "very seriously" and will have a full response soon.
Tough economy sidelines D&M Holdings, Planar at CEDIA Expo 2009
If you thought the well-to-do crowd wasn't feeling the pinch from the rotten economy, consider this -- D&M is not going to be at CEDIA Expo 2009 in a couple of months. You know, the show that features pricey, high-end custom install toys. Not being able to get our paws on the latest toys from Denon, Marantz, McIntosh, Boston Acoustics, Snell and Escient breaks our hearts, but D&M has decided to commit its resources to dealer training (and promotions, we hope); all the better to drive new customer sales. To be clear, D&M will have a presence at CEDIA, it just won't be on the Expo floor -- meetings will be by appointment only. We're just keeping our fingers crossed that similar measures won't have to be taken at CES in January. Planar (and by association, Runco) may take a similar CEDIA approach, not entirely surprising given its recent performance.
Snell and McIntosh to share resources without becoming McSnell or SnellIntosh
Not that we could ever afford either brand, but we would have cried if either Snell or McIntosh had been given the axe by D&M Holdings. Instead, the parent company is restructuring things so that the two companies will share resources while still maintaining separate commercial identities -- at least for now. Snell will be getting a brand new facility on McIntosh's campus, and frankly given the ultra-high end markets both brands appeal to, this could be a good union. We've never seen McIntosh speakers in the field, even alongside McIntosh electronics, but we've got a feeling that some Snell models would be right at home in certain posh systems.
D&M Holdings bought up by Bain Capital, Kenwood not involved
Talk about needing a roster to tell the players apart! RHJ International -- which owns some 49-percent of the D&M Holdings hydra (Denon, Marantz, Boston Acoustics, Escient, MacIntosh and Snell) -- has accepted an offer from Bain Capital to the tune of ¥510 ($4.74) per share in a buyout bid. But earlier reports that pinned Kenwood as a partner to Bain in this effort have been denied by Bain. There's some goings-on here, for sure. First, we haven't seen any dealings involving the 12-percent stake that Philips has in D&M. Also, the soon-to-be JVC Kenwood Holdings states that it has not decided on whether it will invest in D&M; which corroborates pretty well with the latest Bain statement that Kenwood is not involved, and there are no ongoing talks of future involvement. Corporate squabbling and conspiracy theories aside, we just hope that the D&M brands come out unscathed.
Boston Acoustics gets efficient, cuts 30 employees
Amidst recent news about D&M Holdings being sold off, principal shareholder RHJ International has stated that 30 layoffs at Boston Acoustics are an unrelated happenstance. It's unfortunate timing, to be sure, but RHJI spokesman Gail Petersen has stated that acquisition preparation was "absolutely not a factor," and cited a decrease in new Boston Acoustics product development this year and increases in efficiency amongst companies folded into D&M holdings as reasons for trimming rolls. Whether it's coincidence or causality (if it's coincidence, it's an awfully common one), it should all get wrapped up soon -- word is that bidding between Merrill Lynch, Best Buy, Advantage Partners, and Kenwood/Bain Capital should end soon.Read - Boston Acoustics Cuts 30 EmployeesRead - Interview with RJHI's Gail Petersen
D&M Holdings up for sale
While the roster of storied high end names is pretty long, don't think for a minute that the blue-blood part of the market has not experienced consolidation. D&M Holdings is a prime example of this: D&M's owner, RJH International, has managed to fit Denon, Marantz, McIntosh, Boston Acoustics, Snell and Escient under one umbrella over the years. And now RJH is looking to cash in on the concentrated dollop of high end, offering up 49-percent of its shares in D&M. Philips has agreed to offer its12-percent stake to a winning bidder as well. Our math tells us that's more than a controlling percentage. Harman International, apparently satisfied with its own high end roster (including Harman Kardon, Infinity, Revel and Mark Levinson), has bowed out of bidding. That leaves Bain Capital (Kenwood) and Best Buy as the most prominent bidders, both of which scare us a little. One of the things we really enjoy about the D&M brands is the individual "personalities" behind them, and that's a credit to the management overlords. There's no guarantee that this variety of flavor will survive an en masse transition to new ownership.
