Victor Musical Industries Inc. Divests HMV’s V-machine Series Computer Division to Strategic Technology LLC

Camden, New Jersey – Victor Musical Industries Inc. (VMI), has announced the divestment of its HMV brand V-machine Series Computer Division to a private technology firm, Strategic Technology LLC, headquartered in Wilmington, Delaware. VMI’s decision to divest the 3-year-old computer division aligns with the company’s broader strategy to focus on sound, audio software, and musical instrument manufacturing under the renowned HMV brand. The company's journey into computer design and manufacturing began in 2020 as a strategic move to diversify and counterbalance the pandemic-induced economic downturn. "The divestment represents a pivotal shift for VMI, allowing us to concentrate on advancing our core competencies in sound and music technology," said Tracey Sutton, Marketing VP of Victor Musical Industries Inc. "Our goal is to innovate within the realm of musical instrument and home audio manufacturing while enhancing our sound and audio software offerings, staying true to our heritage.” This move marks a return to VMI’s roots, emphasizing its commitment to excellence in the music, sound, and musical instrument sectors. VMI plans to reinvest the proceeds from this divestment into research and development. Strategic Technology LLC will continue the development and expansion of the V-machine Series, ensuring that existing customers and business partners experience a seamless transition. ###

DOWNLOAD PRESS RELEASE .PDF

###

About Victor Musical Industries:
Victor Musical Industries (VMI) is a renowned leader in the music and home entertainment industries with a rich heritage dating back to the 1800s and the founding of the global media and music industries. Reestablished in 2011 under the leadership of arts/commerce focused independent leadership, the company returned to the Camden County/Philadelphia area where it maintains operations in marketing, product design, engineering, recording, production, and manufacturing related to its strategic vision of a community centric beneficial music and home entertainment industry.

For more information about Victor Musical Industries, please visit

www.victormusicalindustries.com (VMI Corporate)

www.victorentertainment.com (Victor Entertainment)

www.victorrecords.com (Victor Records Group)

www.hismastersvoice.com (HMV® Creative Technologies)

Media Contact:

Tracey Sutton

Public Relations Coordinator

NEMS® Public Relations Division of The Caroline Group | A VMI Company

Phone: 1-(844) 802-2557

Email: traceysutton@victorrecords.com