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Wednesday, July 6, 2016

BREAKING: Rane sold to inMusic (UPDATED)


Written by Mark Settle — My inbox started twitching on Friday with some “have you heard?” and “what do you know?” messages from my solid sources. So I reached out to the necessary people, which largely met with a brick wall. But now the word is slowly leaking out, and an official press release has arrived from Rane. So as much as it pains me to write this, it seems that the iconic and genuinely amazing Seattle-based Rane has been sold to inMusic.

Details are slim, but here is what Rane has to say:

Rane Corporation is pleased to announce that cofounders Linda Arink and Dennis Bohn have agreed to sell Rane Corporation to InMusic LLC.

The transaction is set to be completed this summer. After the sale Ms. Arink and Mr. Bohn plan to step down and retire.

Rane is one of the most admired companies within the DJ and commercial sound industry. “Rane will continue some operations out of the Mukilteo, Washington headquarters,” says Ms. Arink.

Ms. Arink feels that with the added resources, engineering talent, and additional IP, InMusic is an ideal buyer for Rane Corporation and will help it grow now and in the future.

So there you have it. And of course we’ve dug a little deeper and this is what we have gleaned from sources so far:
  • The owners of Rane were looking for a buyer, and inMusic clearly made the most attractive offer.
  • The majority of the 60+ workforce will be “permanently displaced” at the end of July.
  • Some engineers will remain (from the HAL/install side) in Seattle.
  • The DJ side of Rane will be absorbed into the Numark/Denon team at inMusic HQ.
  • Manufacturing will be moved to inMusic’s contractors in the far east.
Obviously, this is breaking as we speak, and is a little light on details. I’ll fill in these gaps as and when more information arrives.


UPDATE: NOW WITH INMUSIC PR

INMUSIC SET TO ACQUIRE RENOWNED AUDIO MANUFACTURER RANE CORPORATION

Highly-regarded maker of innovative audio products and solutions for the DJ and the professional sound markets to join inMusic’s award-winning lineup of companies

Cumberland, RI USA (July 6, 2015)—inMusic, Inc. (inMusic), the corporate owner of 13 premiere companies that deliver groundbreaking hardware and software solutions to the music, professional sound and consumer electronics industries, today announced that co-founders Linda Arink and Dennis Bohn have agreed to sell Rane Corporation to inMusic LLC. The transaction is set to be completed this summer. After the sale, Ms. Arink and Mr. Bohn plan to step down and retire.

Rane Corporation is well-known for its cutting-edge audio products for the DJ and professional sound markets. Founded and incorporated in 1981, Rane quickly established itself as a valuable supplier to the professional sound market, with products that introduced new and innovative features, with an emphasis on performance, value and reliability. Today, Rane’s reputation for engineering excellence extends to a wide range of products, including DJ mixers, amplifiers, equalizers, networking products and crossovers.

The inMusic roster of companies spans the range from keyboards, electronic percussion, recording hardware and software, loudspeakers/headphones, amplifiers/media players/signal distribution, lighting and consumer electronics. Rane’s product offerings fit perfectly within this marketing approach, significantly strengthening and broadening inMusic’s reach into several key market segments.

“Rane Corporation is a great addition to inMusic,” said Jack O’Donnell, CEO of inMusic. “Rane is a dynamic, esteemed audio brand focused on enhancing DJ performance and professional sound.”

“I am proud Rane is going to become a member of the inMusic family,” said Linda Arink, Finance Director for Rane. “This is the perfect new home for our company, one that will embrace the legacy of our products and grow our business to its maximum potential.”

The transaction is expected to take place in summer 2016.

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Rest assured that we’ll have a lot of comment and opinion to add, as I’m sure will you.

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