Italy - Powersoft has announced the signing of a binding investment agreement to acquire from H.P. Sound Equipment 51% of the share capital of K-array. The agreement also envisages the mutual granting of call and put options in favour of Powersoft and HP Sound, respectively, on the remaining 49% of K-array’s share capital. The closing of the transaction is, to date, expected by March 2025.
Luca Lastrucci, CEO of Powersoft comments: "We are excited to announce this acquisition, a significant strategic step for our company and the professional audio market. This transaction arises from a successful partnership between two companies that have been collaborating for many years now, with a strong territorial proximity and sharing a creative and innovative spirit, both convinced of the potential to create important product and technological synergies.
“We plan to enrich our portfolio with cutting-edge products, leveraging the expertise and resources of K-array to develop new integrated audio solutions for an ever-evolving market. The synergy between Powersoft and K-array is set to generate significant results in technological innovation, allowing us to strengthen our presence in the segments where we already operate while also expanding into new areas. We can't wait to start working with K-array to set new and even higher standards of excellence.”
Alessandro Tatini, chairman and CEO of K-array adds: "Massimo Ferrati (CEO and co-founder) and I decided on this strategic step to integrate our company into a solid and constantly growing group like Powersoft. Our intention is to empower our resources for a promising future filled with opportunities and success.
“In addition to growth in numbers, the goal is to strengthen a solid and cohesive foundation capable of tackling future challenges with greater resilience and determination. Our team has been integral to our growth journey, and we believe it is our responsibility to provide them with an even more ambitious vision for our project.
We have been collaborating with Powersoft since the beginning, and beyond being neighbours and sharing an identity, deeply rooted locally yet globally oriented, we are united by a strong passion for technology and sound. We are confident that this partnership will allow us to achieve incredible results in synergy. We are excited and eager to unleash our full creativity and potential.”
K-array, founded in 2005 and headquartered in Scarperia e San Piero (Florence), is active in the design and manufacture of compact design audio systems for a wide range of applications.
