Sound United pulls out of deal to buy Onkyo's home audio division

Sound United has announced it will not be acquiring Onkyo Corporation's consumer audio division.

Earlier this year, the company had agreed to take control of the home theatre/hi-fi elements of the Onkyo, Pioneer and Integra brands, but now says it has 'mutually agreed it is in the best interest of both organizations to terminate the proposed acquisition.'

'After months of rigorous work and negotiations, it became apparent that all of the necessary closing conditions could not be satisfactorily achieved,' said Sound United in a statement.

The proposed deal would have seen Sound United add the Onkyo corp brands to its existing roster, which includes home cinema AVR stalwarts Denon and Marantz, plus Polk Audio, Classe, Definitive Technology and Boston Acoustics.