D&M acquires British audio firm

D&M Holdings Inc. has acquired British audio manufacturer Calrec Audio Ltd. in a bid to offer commercial audiovisual equipment worldwide, the company said Tuesday.

While the purchase price of Calrec was not disclosed, the acquisition is expected to raise D&M Holdings' consolidated earnings per share starting with the 2008 business year, the company said. A wholly owned subsidiary of Kawasaki-based D&M Holdings turned Calrec into a 100 percent-owned unit.

Through the acquisition of the West Yorkshire-based company, the audiovisual equipment maker aims to bolster its foothold in the growing broadcast market, as well as other commercial audiovisual markets in recording and film production.

"The acquisition of Calrec is an important step in our stated growth strategy to expand into new markets, specifically commercial audio/visual," said Eric C. Evans, D&M Holdings chairman and chief executive.

Calrec offers a lineup of advanced products such as digital audio consoles and other audio products in North American and European markets, and employs proprietary technology that boasts wide-ranging sound channels.