According to the press release from Stem Audio, Shure will expand and its solution offering for organizations of all sizes with the acquisition. At the same time, Stem Audio will benefit from the robust global infrastructure and support capabilities that Shure provides.
“We both believe in ecosystems. Working together, we aim to provide customers with better options to deploy great audio in more spaces, more cost-effectively, and more quickly,” said Chris Schyvinck, president and CEO, Shure. “Shure and Stem Audio understand the importance of good quality audio and taking care of customers, so this acquisition is a great fit for both organizations.”
“We’re thrilled to be joining a company with an unrivaled pedigree and history in manufacturing audio products,” said Jacob Marash, CEO and Founder, Stem Audio. “Shure’s scale and global reach will help make Stem Audio products more available to customers, providing improved value, quality and support.”
Shure and Stem Audio will continue to operate separately as integration plans for sales and support are finalized. Future plans for the respective product portfolios will be shared later. In the meantime, customers will continue to buy and receive support for Stem Audio products from Stem Audio’s current channels, including StemAudio.com in the U.S. market.
This acquisition also includes Midas’ Phoenix Audio Technologies brand.