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Speaker Maker Bowers & Wilkins Sells Out to a Tiny Silicon Valley Startup

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Quickly, one last entry into today’s tech file:

Bowers & Wilkins

Joe Atkins, chief executive officer of Bowers & Wilkins, has owned a majority stake in the half-century-old British speaker business for the last 30 years. On Tuesday, he plans to tell his 1,100 employees that he’s selling it to a tiny company that almost no one has heard of, run by a man he met just 30 days ago. Over the weekend, Atkins reached a sale agreement with Eva Automation, a 40-person Silicon Valley startup that hasn’t yet sold a single product or service. The company was started in 2014 by Gideon Yu, a former Facebook Inc. chief financial officer, ex-venture capitalist, and current co-owner of the San Francisco 49ers. Yu has said little about his startup. According to the company’s website, it is “making products that will change how people interact and think about the home.” About a quarter of its employees have worked at Apple, according to their LinkedIn profiles.

Bowers & Wilkins became a household name before speaker companies had to distinguish themselves through Spotify integrations and voice recognition capability. While Bowers & Wilkins does sell speakers designed to accommodate people used to listening to music through their smartphones, Atkins acknowledges that his company lacks the expertise needed to build software that communicates with cloud services. Any company that wants to sell speakers at a significant premium would need to integrate high-end hardware with sophisticated software. Yu plans to begin selling new products that incorporate Eva’s work by early to mid-2017.

(click here to continue reading Speaker Maker Bowers & Wilkins Sells Out to a Tiny Silicon Valley Startup – Bloomberg.)

I have owned three different Bowers & Wilkins headphones: they all still have great sound. I hope these new owners don’t gut the company of what made it great and run it into the ground.

Written by Seth Anderson

May 3rd, 2016 at 10:21 pm

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