on August 23, 2016
Nicolas M Kyvernitis Electronics Ent. (NMK) and MUSIC Group have mutually agreed to terminate their Midas distribution agreement in the Middle East region, bringing to the end the relationship that been in place for two decades. The termination was declared effective as of 22 August 2016. Since 1996 NMK has been responsible for sales and promotion and marketing of Midas digital and analogue consoles in the Middle East. The company has represented the brand at regional trade shows, including Palme, CabSat and InfoCom MEA, and used its NMK Academy as a platform for promoting the Midas brand without direct support from the manufacturer. Through the years thanks to hard work and dedication to the brand NMK was several times recognised as Midas’ distributor of the year. “We are proud of our accomplishments while developing Midas brand in the region. Our team’s hard efforts has positioned the consoles in the install market increasing the number of technical riders with Midas digital consoles for the tours across GCC. Midas acquisition by Music Group brought new opportunities, but also a new business strategy and philosophy that slowly separated both companies. We would like to wish the best to Midas, and hope to see its further development in the market,” commented Constantinos Drimakis, Operations Manager at NMK. “As for NMK, our team continues to work passionately to build the brands we represent. The brand portfolio will continue to grow organically with strategic and like-minded business partners, “he added. Midas amplification was formed in London by Jeff Byers and Charles Brooke in the 1970s. In 2009 Midas and KLARK TEKNIK brands were acquired by MUSIC Group.