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Fender: Fender Musical Instruments
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Founded in 1946, Fender Musical Instruments Corporation has been an American icon for over 50 years. In that time, Fender's contribution to the evolving sound of contemporary music has been global and continuous. By introducing the first revolutionary Precision Bass® guitar in 1951 Fender bass instruments have left their mark on jazz, blues, country, rock and many other styles of popular music.
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Fender started in 1946 when Leo Fender first introduced his solid body electric guitar. Fender Musical Instruments Corporation has been in business for over 50 years. They have made large contribution to music at large by being the first to sell solid body electric guitars. This changed the landscape of music from Elvis to the Beatles a fender has been involved in some way.
SmartBrief Fender Musical Instruments Corporation (FMIC) announced today that it has entered a definitive agreement to acquire Kaman Music Corporation (KMC). FMIC agreed to purchase Kaman Music Corp., a wholly owned subsidiary of parent company Kaman Corp. (NASDAQ-GM: KAMN), for approximately $117 million in cash, subject to specified post-closing purchase price adjustments. Closing is expected to occur prior to January 1, 2008.
During the past decade, Fender has grown dramatically in sales and stature. The company manufactures and distributes virtually everything that a guitarist needs to perform, from the guitar, strings and accessories, to the pro audio products including amplifiers and mixing boards. Today, under Schultz's direction, Fender Musical Instruments Corporation is a world leader in the manufacturing and distribution of electric guitars and amplifiers.
Since their inception, Fender guitars have stood for both quality and stylish design. Leo Fender founded the Fender Musical Instruments Corporation in the 1940s, and he ultimately put an indelible stamp on the history of rock and roll. One of the most pivotal innovations that Fender brought to the electric guitar is the so-called bolt-on neck.
In 1965, because of poor health, Leo Fender sold his company to corporate giant CBS. Over the next two decades, Fender Musical Instruments experienced some tremendous growth. But as time wore on, CBS's lack of commitment and real understanding of music and musicians was becoming apparent.
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