Onkyo to transfer all shares of its consolidated subsidiaries to Sound United for $75m.

Onkyo, consumer electronics manufacturer​ agreed to enter into a contract to transfer all shares of its consolidated subsidiaries Onkyo & Pioneer,​ Onkyo Asia Electronics, Onkyo & Pioneer Marketing Japan and part of the business for Pioneer & Onkyo Marketing Asia and Onkyo Trading to Sound United, Vipers Holding's subsidiary. The deal value is $75m Onkyo has decided that its business resources and technology are best directed in the two areas it believes to have the most growth potential - Digital Life portable products and OEM products and services targeting the B2B space. Sound United, which will now add Onkyo’s brands to its already world-class premium brand line-up of Denon, Polk Audio, Marantz, Definitive Technology, HEOS, Classé, and Boston Acoustics will now be perfectly positioned to capture the future growth of music and entertainment in the home.