IFA 2024: TELEFUNKEN and ETON Soundsysteme announce partnership for high-quality audio products

• New license partnership between TELEFUNKEN Licenses GmbH and
  ETON Soundsysteme GmbH


• Audio portfolio including high-quality Bluetooth over-ear headphones and earbuds under the TELEFUNKEN brand


• Expected to be sold online and in bricks-and-mortar stores in the EU, Norway, Liechtenstein, Switzerland and the UK from Q4 2024

Frankfurt am Main/Delbrück/Berlin, September 9, 2024 - TELEFUNKEN Licenses GmbH and ETON Soundsysteme GmbH, a subsidiary of the German automotive supplier paragon GmbH & Co. KGaA, have announced their new licensing partnership in the field of high-quality audio products at IFA 2024. Two models of high-quality Bluetooth over-ear headphones and true wireless stereo (TWS) earbuds are expected to be launched under the TELEFUNKEN brand from the fourth quarter of 2024. All audio products will be sold exclusively in the EU as well as in Norway, Liechtenstein, Switzerland and the UK under the TELEFUNKEN brand - initially online and then in parallel in brick-and-mortar stores. The product portfolio will be expanded to include headphones and speakers for home hi-fi, home cinema, desktop audio and mobile audio.

  Philippe Maugeais, Managing Director of TELEFUNKEN Licenses GmbH: \"ETON Soundsysteme GmbH and the paragon Group are an ideal fit for TELEFUNKEN with their technically sophisticated and modern products in the audio sector. Their many years of expertise in both large-scale automotive production and loudspeaker manufacturing combined with German engineering make them the predestined license partner for us. With them, we are building on TELEFUNKEN's long history in the audio segment, want to further strengthen our position throughout Europe and beyond in digital and stationary specialist retail and jointly lead audio products into the future under the TELEFUNKEN brand.\"

\"paragon has all the expertise in technology and manufacturing know-how in-house to offer innovative and emotionally moving consumer products with the same high quality standards that we have been meeting in the automotive industry for over 30 years,\" says Klaus Dieter Frers, founder of paragon and Managing Director of ETON Soundsysteme GmbH. \"And with TELEFUNKEN, we have gained a traditional branding partner who is just as passionate about German engineering as we are. I am particularly touched by this partnership, as TELEFUNKEN in Heilbronn supported me in my first steps into electronics as a student, which ultimately led to my career start at AEG-TELEFUNKEN in Frankfurt and Seligenstadt.\"

About TELEFUNKEN Licenses GmbH

Since its creation in 1903, the TELEFUNKEN brand has stood for the basic principles of German engineering, high quality and innovation. Today, the trademark rights are held by TELEFUNKEN Licenses GmbH, Frankfurt/Main, a group company of the Gordon Brothers Group, Boston/USA. TELEFUNKEN Licenses GmbH operates a successful international brand licensing business. The companies of the TELEFUNKEN Partner Alliance, a worldwide network of independent licensees of TELEFUNKEN, develop and distribute a wide range of products in the areas of TV, video, audio and household appliances, among others, in the tradition of these brand values.

www.telefunken.com

About Gordon Brothers Group

Since 1903, Gordon Brothers has been helping lenders, management teams, advisors and investors drive change. The firm offers clients a powerful combination of expertise and capital, developing customized solutions on an individual or holistic basis in four service areas: Valuation, Realization, Financing and Investment. Whether promoting growth or facilitating strategic consolidation, Gordon Brothers works with companies in the retail, commercial and industrial sectors to maximize liquidity, leverage assets and reduce liabilities. The firm executes more than $100 billion in divestitures and valuations annually and provides both short-term and long-term capital to clients undergoing transformation. Gordon Brothers originates loans and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both collectively and individually, to provide liquidity solutions to its clients beyond its market-leading disposition and valuation services. The company is headquartered in Boston and has more than 30 offices on five continents.

www.gordonbrothers.com

About ETON Soundsysteme GmbH

Since 1983, ETON has stood for uncompromising sound thanks to German engineering. With high-quality products free of esotericism, but packed with patented technologies and exclusive materials, ETON has made a name for itself as a chassis and sound system manufacturer for high-end loudspeaker manufacturers and supplier to luxury car brands for over 40 years. Today, ETON Soundsysteme GmbH is a subsidiary of paragon GmbH & Co KGaA.

www.eton-hifi.com

About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main, develops, produces and sells pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and high-end acoustic systems in the Electronics segment. In the Mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the rapidly growing automotive market for battery systems, paragon's Power division supplies battery management systems and traction batteries. In addition to the company headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH & Co. KGaA and its subsidiaries have sites in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg), Limbach (Saarland) and in Kunshan (China), Detroit (USA), Bengaluru (India) and Oroslavje (Croatia).

www.paragon.ag

Press contact                                 Press contact

TELEFUNKEN Licenses GmbH     ETON Soundsysteme GmbH

Christopher Sankat                          Rüdiger Forse

Phone:  +49 (0) 69 600 1200           Phone: +49 (0) 6841 8090 1527

E-Mail: presse@telefunken.de         E-Mail: ruediger.forse@paragon.ag