Gibson Guitar Corp. has announced it expects to merge with Denmark-based music technology firm TC Group.
TC Group CEO Anders Fauerskov will remain based in Europe and serve as COO of the guitar company, according to a statement. The two companies said the merger would allow development of new audio technologies. TC Group develops amplifiers, speakers, digital processors, guitar pedals and other audio products.
Gibson will grow to 5,000 employees worldwide, according to the Tennessean, and Gibson CEO Henry Juszkiewicz told the paper no layoffs are planned. The combined companies will be based in Nashville, home to Gibson headquarters.
The deal was announced at NAMM 2008 in Anaheim, Calif., January 18th.