Allen and Heath Sold To D M Holdings

D&M HOLDINGS ACQUIRES ALLEN&HEATH

D&M

Holdings Inc. (TSE 1:6735) announced today the completion of the
acquisition of Allen & Heath Holdings Limited of Penryn, Cornwall,
England, a leading designer and manufacturer of audio mixing consoles
for professional sound engineers, live sound installations and DJs. The
acquisition will be accretive to earnings per share in FY2008.



“The acquisition of Allen & Heath is a strong complement to our
Calrec and D&M Pro brands,” said Chairman and Chief Executive
Officer Eric C. Evans. “This acquisition broadens our product offerings
to our longstanding DJ customer base and expands our business in the
professional market into installed live sound.”



Founded in 1969, Allen & Heath supplies digital and analog consoles
through a global sales force to a network of distributors in more than
80 countries. The company operates from its Cornwall England
manufacturing facility and has more than 150 employees in R&D,
sales, marketing, manufacturing and administrative functions. The
Company will continue to be led by Glenn Rogers and its current
management team.

Allen & Heath MD, Glenn Rogers

Recently,
Allen & Heath successfully launched iLive, a break through mixing
system that features an extremely flexible architecture with
distributed audio and control. The iLive system, developed specifically
for digital mixing of live sound, is used by bands, clubs and rental
companies around the world and has enjoyed immediate market success.
Allen & Heath will continue to expand their digital portfolio to
meet the growing demand for digital mixers.



“We’re adding another dimension to our position in the professional
audio marketplace with this acquisition,” said Evans. “Allen &
Heath is a strong brand in the professional live sound performance
market and well suited to benefit from the D&M business platform.
Like our other premium brands, Allen & Heath can continue to focus
on innovation while D&M provides expanded global market reach and
other support. We also see useful tie-ins with Calrec, our live-to-air
broadcast console brand, and Denon DJ.”



The terms of the transaction will not be disclosed.