Numark Acquires Alesis

May 15, 2001 12:00 PM, Editors

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After months of rampant rumors and speculation, Alesis announced that it filed for Chapter 11 bankruptcy protection on April 27, 2001. The filing was made in conjnction with an agreement to be acquired by Jack O’Connell, president of Numark Corporation. Numark manufactures professional DJ equipment, including mixers, turntables, CD players, headphones and microphones. An auction for the company will be held on May 23 in U.S. Bankruptcy Court in Los Angeles.

Alesis said it will continue normal operations during its protection period; there is no word yet on what the acquisistion means for new product development, but the company said it plans to follow through on technology announcements made at AES and NAMM.

In an earlier announcement, Groove Tubes announced that the company’s three-year partnership with Alesis has come to an end. Under the agreement, Groove Tubes retains all original product designs, intellectual property for its studio mics and processors that were invented before the partnership, and retains exclusive rights to the Groove Tubes trademark and GT logo.

For more, visit www.alesis.com.






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