Bang & Olufsen Takes Over ICEpower
July 08, 2008
Bang & Olufsen a/s has sealed an agreement to take over full control of its strategically important subsidiary company, Bang & Olufsen ICEpower a/s. Until now, Bang & Olufsen has owned 90 percent of the shares in ICEpower. The company now takes over the 10 percent previously owned by Karsten Nielsen.
"It means very much for Bang & Olufsen that we now gain full control of Bang & Olufsen ICEpower a/s. ICEpower’s high-pitched technology counts in large part for our audio products, in terms of music systems, televisions and sound systems for the automobile industry," says Jørgen Worning, Chairman of the Board of Bang & Olufsen.
As a result of handing over his shares, Karsten Nielsen, who was the co-founder of Bang & Olufsen ICEpower a/s nine years ago, is leaving the company all together. He has been involved with ICEpower since 1994 when he started working on his PhD thesis, ‘Audio Power Amplifier Techniques with Energy Efficient Power Conversion.’ The project was a co-operation with Karsten Nielsen’s learning institution, Technical University of Denmark and Bang & Olufsen. The thesis resulted in the development of ICEpower technology, and later – to the founding of Bang & Olufsen ICEpower a/s.
"Many of my personal goals with ICEpower have been reached by proving the substance in the vision and technologies, on which ICEpower was founded. ICEpower is today an established profitable company; and for the entrepreneur at heart, there is this desire for new adventures after nine years," says Karsten Nielsen. He is also thankful to all of his colleagues for his time at ICEpower.
ICEpower, with their premises in Kongens Lyngby near Copenhagen, employs 40 people. Apart from Peter Sommer, CEO, the leadership in ICEpower will in the future be carried out by Kristian Ougaard, Director of Product Development, and Tomas Schiønning, Director of Operations.
ICEpower Media Contact