Yamaha Motor Corp. U.S.A. announced in a statement that Yamaha Marine Systems Co. intends to purchase Siren Marine. The transaction is expected to be completed before the end of the year. Terms were not disclosed.
Last March, Yamaha secured a minority investment in Siren.
The acquisition of Siren and the development of connected products is in line with Yamaha’s CASE strategy, an acronym for connected, autonomous, shared/service and electrification. CASE is Yamaha’s directional theme for product development.
“As we began to work closely with the Siren team, we realized quickly what a great fit Siren is for the Yamaha strategy as we move forward with product development,” Ben Speciale, president of the Yamaha U.S. Marine Business Unit, said in a statement. “The full acquisition of Siren will allow us to truly integrate our products.”
Siren products will remain Siren-branded, and development teams will continue to work out of Siren’s headquarters in Newport, R.I., as well as Yamaha headquarters in Kennesaw, Ga.
“By joining the Yamaha team, we now have the ability and power to give customers the best Connected Boat experiences on the market,” said Siren Marine CEO Jeffrey Poole.
Yamaha and Siren said they plan to introduce co-developed products in the next 12 to 24 months.
