Masimo (Nasdaq: MASI) has completed its acquisition of consumer electronics company Sound United, the Irvine-based medical technology company (Nasdaq: MASI) announced Apr. 12.
Sound United—which operates brands like Marantz, Bowers & Wilkins and Denon–will operate as a division of Masimo under its existing leadership from its Carlsbad headquarters. The combined company will develop consumer-facing healthcare products, officials said.
“We are thrilled to add Sound United’s premium technology, established consumer channels, and well-known brands to Masimo’s broad portfolio of hospital and home medical technology solutions,” Masimo’s Founder and CEO Joe Kiani said in a statement.
“We believe Masimo’s expertise in advanced signal processing, biosensing, and photonics technologies combined with Sound United’s audio and home automation technologies will bring about natural and yet non-intuitive solutions to people around the globe in home and in hospitals.”
Following the announcement, Masimo’s shares fell 0.3% to $139.26 apiece for a $7.7 billion market cap.
Financial guidance associated with the acquisition will be released during the company’s first quarter earnings call on May 3.
For more exclusive details on Masimo’s plans post-acquisition, see the April 11 print edition of the Business Journal.