The news came in the from of a press release from Rane, who has confirmed the sale is commencing and will be finalised this Summer (or Winter for us living at the bottom of the Earth).
The press releases states in full:
”Rane Corporation is pleased to announce that cofounders Linda Arink and Dennis Bohn have agreed to sell Rane Corporation to InMusic LLC.
The transaction is set to be completed this summer. After the sale Ms. Arink and Mr. Bohn plan to step down and retire.
Rane is one of the most admired companies within the DJ and commercial sound industry. “Rane will continue some operations out of the Mukilteo, Washington headquarters,” says Ms. Arink.
Ms. Arink feels that with the added resources, engineering talent, and additional IP, InMusic is an ideal buyer for Rane Corporation and will help it grow now and in the future.”
There isn’t much more we can detail at this stage as it is all happenign as we speak, howevr the good guys over at DJ Worx have jotted down what this means for Rane and InMusic:
- The owners of Rane were looking for a buyer, and inMusic clearly made the most attractive offer.
- The majority of the 60+ workforce will be “permanently displaced” at the end of July.
- Some engineers will remain (from the HAL/install side) in Seattle.
- The DJ side of Rane will be absorbed into the Numark/Denon team at inMusic HQ.
- Manufacturing will be moved to inMusic’s contractors in the far east.