Premium Sound Solutions & AAC Technologies announced today that they signed an agreement for AAC to acquire a majority stake in Premium Sound Solutions while its current owner, financial investors Value Enhancement Partners and Ardent Equity Management, keep a minority stake in the company.The transaction is expected to close by the end of calendar year 2023 subject to regulatory approvals and other customary conditions.
Premium Sound Solutions (PSS) is a global leader with a strong focus on innovation and sustainability. Based on its broad expertise and proven track record, PSS continues to deliver innovative sound products and unique solutions to its numerous customers across the globe. As a B2B company, PSS serves global premium customers in the automotive as well as in the consumer market.
“PSS will continue to operate under the same name executing its vision & mission while leveraging the strengths from AAC” said Stijn Goeminne, CEO of Premium Sound Solutions.
AAC Technologies (AAC)
AAC Technologies (2018.HK) is a leading provider of sensory experience solutions with the goal of building the future of interactive sensory technologies. Through continuous innovation, the group established long-term strategic partnerships with global smart device clients. AAC has strong capabilities in acoustics, optics, haptics, sensor and semiconductor, and Precision Manufacturing based on decades of industry experience.
“We are delighted to have the opportunity to partner with PSS to support our strategy to grow and continue to diversify our business toward the automotive market. PSS’ leadership position as a premium automotive audio system provider, combined with AAC technology platform and portfolio of innovations, will serve as a strong foundation to continue to offer differentiating solutions to customers globally”, said Kelvin Pan, Executive Vice President at AAC.
Media contact : AAC: aactechnologies@pordahavas.com