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#11
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You are right, thanks for the correction.
From investors.com: "Finally, there's a huge difference in valuation between the buyer and seller, he said. Masimo's market cap was roughly $12.6 billion early Wednesday. It's spending $1.025 billion to acquire Sound United. In 2021, Masimo generated $1.24 billion in sales. Sound United brought in $900 million." SU recorded $900M revenue in 2021 "The deal marries medical technology player*Masimo*(MASI) and privately held Sound United, a manufacturer of consumer audio devices like earphones and speakers. Masimo argued the $1.025 billion buyout gives it access to an established distribution channel with major retailers and a potential to cross-sell its products. But investors and analysts weren't impressed." "This is the first time we have seen a medtech company move into non-health consumer products with a large acquisition," he said. Further, the transaction will be dilutive to revenue growth and margins, but accretive to earnings. The company also doesn't expect any cost synergies,..." |
#12
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Thanks, great info. Sound United is much larger than I thought. My $1 Ben industry number must be without home theater. Dunno.
Masimo is running in the 20% range on gross profit and SU is dilutive to that, so I’m guessing maybe 15% GP. That would make the deal 6x GP which isn’t overpriced.
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Main System: Amati Futura Mains Amati Homage VOX Center, Proac Response 1sc Rears, Three MC2301's for L,C,R MC 602 for the rears C 1100, MX 151, MCD 1100, MR 80 Nottingham Dais with Wave Mechanic Sumiko Palo Santos Presentation SurfacePro 3, RPi 4, ROON, WW Starlight Platinum USB, Schiit Yggdrasil, Benchmark DAC3 HGC MX 151, OppO BDP-95, JVC RS-500 DILA projector, 106" diagonal Stewart Luxus Screenwall Deluxe with Studiotek 130 G3 material. Lake House: Ohm F, MC 275V, C2300, MR 77, Rega P3 OnDeck: McIntosh MAC 4300v |
#13
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Nevertheless, I agree this deal is a real head shaker. In the long run has the potential to be really bad for the D&M brands. Hopefully it won't turn out like the Alpine/Luxman acquisition of the mid 80's.
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McIntosh MA8000; McIntosh MC1502; Canton Vento Reference 1 DC; E.A.T. E-Flat; Soundsmith Paua Mk II; Technics SL 1210 MK5; Audio Technica AT-150 MLX; Tascam BR-20; Teac X1000R; Pioneer RT-707; Oppo UDP 205; Denon DCD A-100; HP All-In-One Touchscreen Server; JRiver MC 28; Woo Audio WA6; Shure SRH 1840; SVS SB 1000; Jolida 502BRC; Jolida JD9; VPI 16.5 RCM; Wireworld Oasis 8 Speaker Cables; Audoquest Columbia 72 DBS IC's; Panamax PM-5400 (source components only) Last edited by FreddieFerric; 03-19-2022 at 09:31 AM. |
#14
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Sonus Faber Elipsa SE | REL S/812 | Goldmund Telos 280 | EAR Yoshino 912 | Merason DAC1 | Innuos ZENith Mk3 | Clearaudio Innovation Basic + TT5 + Lyra Delos | Studer A810+A807 | Nakamichi Dragon | RDacoustic Hybrid Acoustic Diffuser |
#15
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Apparently Masimo's purchase of Sound United has not gone down well with shareholders as the company has now trimmed 5 billion in value post acquisition.
It seems a shareholder lawsuit has been filed over this ill-conceived purchase. Looks like the legal wrangling will be protracted. More on the story is found in the "Industry Update" section of the January, '23 Stereophile.
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McIntosh MA8000; McIntosh MC1502; Canton Vento Reference 1 DC; E.A.T. E-Flat; Soundsmith Paua Mk II; Technics SL 1210 MK5; Audio Technica AT-150 MLX; Tascam BR-20; Teac X1000R; Pioneer RT-707; Oppo UDP 205; Denon DCD A-100; HP All-In-One Touchscreen Server; JRiver MC 28; Woo Audio WA6; Shure SRH 1840; SVS SB 1000; Jolida 502BRC; Jolida JD9; VPI 16.5 RCM; Wireworld Oasis 8 Speaker Cables; Audoquest Columbia 72 DBS IC's; Panamax PM-5400 (source components only) |
#16
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This reminds me of when B&W was sold to Eva Automation. Not good for Sound United!
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#17
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"bringing Sound United's premium technologies into the hospital to advance our hospital automation connectivity and cloud-based technologies".
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Main: Mc C2200 (Telefunkens) and MC207, Spectral DMA-180, Marantz AV8805A, JL Audio CR-1 and SAv2, Sony ST-SA5ES, TC-KA3ES and MDS-JA50ES, Oppo UDP-205 and BDP-103D, Bryson BDA-3, Magnum Dynalab FM Signal Sleuth, Remedy, PS Audio P12, Pioneer DT-555, Samsung 65" QLED TV 8K, JBL 4311B, M&K MX125II on Ultra SS Stillpoints, B&W HTM2D2, CCM7.3 S2, CCM683 Office: Sony TA-F700ES (Mod), MDS-JA50ES (Mod) and SEQ-333ES, Accuphase T-107B, Bryston BDA-3, BHA-1 and BUC-1, Audeze LCD-4, Linn Tukan, REL T7 on Ultra SS Stillpoints, PC Server (16 TB) Mobile:Audison bit One Virtuoso HD, bit Play HD, Amps and speakers. |
#18
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Quote:
Doctor: "We're going with the Marantz catheter for him and make sure you feed good volume of "Slow Burn" through it while his bladder drains.
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McIntosh MA8000; McIntosh MC1502; Canton Vento Reference 1 DC; E.A.T. E-Flat; Soundsmith Paua Mk II; Technics SL 1210 MK5; Audio Technica AT-150 MLX; Tascam BR-20; Teac X1000R; Pioneer RT-707; Oppo UDP 205; Denon DCD A-100; HP All-In-One Touchscreen Server; JRiver MC 28; Woo Audio WA6; Shure SRH 1840; SVS SB 1000; Jolida 502BRC; Jolida JD9; VPI 16.5 RCM; Wireworld Oasis 8 Speaker Cables; Audoquest Columbia 72 DBS IC's; Panamax PM-5400 (source components only) |
#19
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Doug 2-Channel McIntosh C2700, (2X)MC601, MEN220 Lampizator Baltic 3 Sonore opticalRendu, SGC sonicTransporter i5 (Gen 3), Roon Thorens TT TD318 B&W 803D3 JL Audio (2x)f110v2 Shunyata Denali/S v2, Alpha v2 PCs, WW Gold/Silver Eclipse Interconnects, Platinum USB Whole House Music Listening Bluesound Vault2i, PowerNode2, PulseMini2i, Pulse2, (3x)Flex 5.2 System Above using Passthru Marantz SR7012 Oppo 205, Apple TV (4th gen), Sony XBR850e65 B&W HTM2 D3 Second 5.1 System Castoffs from Upgrades LRC Paradigm Millenia 20, Velodyne MiniVee 10, KEF surrounds, DefTech AW6500 |
#20
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Sounds like the execs at Sound United just cashed out.
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Lumin P1 streamer/DAC/preamp, Constellation Inspiration integrated TT: Michell Gyro SE MkII, SME V, Koetsu Urushi Vermilion, EAR324. Harbeth 30.2s, REL R-305, Shunyata Alpha V2 ICs, Alpha V2 SPs, Sigma XC, Sigma NRv2, Omega QR-s & Alpha NRv2 PCs, segmented Altaira SG stack w/ Alpha & Omega CGCs, Everest 8000 PD. Remote Server Room: Uptone EtherREGEN, AfterDark Master Clock & LPS, Alita, Battle Angel, (Akasa NUC Roon Core), iFi DC Purifiers (for SMPS used for Alita & router), Shunyata Gemini combo power distributor & Altaira-type CG GP-NR hub, Venom & Alpha CGCs, Shunyata NRv14 power cords for digital components. Last edited by Puma Cat; 12-09-2022 at 12:58 AM. |
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