Yamaha Acquires Line 6 Inc.Thursday, January 2, 2014
Calabasas audio product manufacturer Line 6 Inc. has been acquired by Yamaha Corp., the two companies announced.
Line 6 is a developer of guitar processing equipment, professional audio equipment and computer audio accessories, among other products. Financial terms of he deal were not disclosed.
Line 6 is at the intersection of the music equipment industry and the technology industry. The company was backed by Sutter Hill Ventures, a Palo Alto private equity firm that invests in technology startups. Other investors included Peter Gotcher, a venture capitalist with a background in digital audio.
Under the acquisition agreement, Line 6 will operate as a wholly owned subsidiary of Yamaha, which is based in Hamamatsu, Japan.
Line 6 Chief Executive Paul Foeckler said the acquisition will help grow the company founded in 1996.
“We’re proud that Yamaha recognizes the innovation and value in our people, IP and processes and we’re excited about the opportunities ahead to expand our reach,” he said in a prepared statement.
The transaction is expected to be completed later this month after receiving regulatory approval.