Burkhardt Not Buying SoundCast
One month after the announcement that CE industry icon Jeremy Burkhardt was purchasing Soundcast Systems, Soundcast said Thursday that the sale will not go through, and the company is no longer for sale.
According to company president Mike Weaver, "the deal did not close as anticipated, the terms had a 90 day fast track that has expired. Current ownership has decided not to extend the deadline, primarily because the response to Soundcast Products during CES made us rethink our plans."
“Things like this happen and I respect the management team’s decision to not extend the deadline," Burkhardt said. "The past few months have been amazing working with people and products that I love and my passion for the industry has never been so strong.”
“We are moving full speed ahead with the added capital and strengthening our team through new hires and development of new marketing and sales tools for our channel partners," Weaver added.
"Our first hire is Nick Berry, who will head up our in-house sales team, guaranteeing a revitalized and energetic sales force. Oscar Ciornei will push forward with our new markets and business development. “It is mind-blowing to see the positive result this process has had on our organization with a focuseddirection and the capital to support it. Our entire team is excited about the new markets, new products and growth opportunities that lie ahead for Soundcast."
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