IAG acquires Mission

UK - The International Audio Group (IAG) has announced the purchase of the Mission business from the administrators of Symphonix Ltd. In a separate transaction, IAG has also purchased the Mission brand name from NXT plc. Commenting upon the acquisition, Tim Harris, managing director of IAG UK said: "The Mission product portfolio is exceptionally strong and selling well. However the company has suffered severe, and well documented, financing issues during the past 12 months. This new deal puts Mission on a very strong financial footing, allowing its many successful product ranges to continue in the market. Furthermore, with full access to IAG's considerable manufacturing infrastructure, Mission will now be in an ideal position to pursue - with the utmost vigour - its long-held commitment to technical innovation and product excellence."

(Lee Baldock)

Latest Issue. . .