01 May 2011

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$ 2 Billion Bose Corp. Donated to MIT by Billionaire Dr. Amar Bose

$ 2 Billion Bose Corp. Donated to MIT by Billionaire Dr. Amar Bose

MIT becomes majority owner of Bose Sound Corp.

American billionaire Amar Bose, founder of the iconic Bose Corporation, has given his alma mater MIT a majority of the stock of his audio equipment maker company Massachusetts-based Bose Corp.


Bose Sound Corp a private company, Bose does not disclose its finances, but has reported annual revenue of about $2 billion.

In a statement Massachusetts Institute of Technology said that "Dr Amar Bose has given to MIT (where he also taught) the majority of the stock of Bose Corporation in the form of non-voting shares.

MIT will receive annual cash dividends on those shares when dividends are paid by Bose Corporation. Those cash dividends will be used by the institute to "sustain and advance MIT''s education and research mission."

Under the terms of the gift, MIT cannot sell its Bose shares and will not participate in the management or governance of the company.

"Bose Corporation will remain a private and independent company, and operate as it always has, with no change in strategy or leadership

Dr. Bose received his bachelor’s degree, master’s degree and PhD from MIT, all in electrical engineering.
He was asked to join the faculty in 1956, and accepted with the intention of teaching for no more than two years.
He continued as a member of the MIT faculty until 2001, making important contributions to the Institute’s teaching of undergraduate electrical engineering.

In 1964, Dr. Bose founded Bose Corporation.

History of Bose Sound Corporation –

Bose Corporation was founded in 1964 by Dr. Amar G. Bose, then professor of electrical engineering at the Massachusetts Institute of Technology. As an MIT grad student in the 1950s, Dr. Bose decided to purchase a new stereo system. He was disappointed to find that speakers with impressive technical specifications failed to reproduce the realism of a live performance.

The quest for better sound was on.

Extensive research in the fields of speaker design and psychoacoustics—the human perception of sound—led to the groundbreaking 901® Direct/Reflecting® speaker system in 1968. Its unprecedented approach to sound reproduction came much closer to the essence and emotional impact of live music, and won immediate acclaim.

The list of major Bose innovations continues to grow. Fourteen years of research led to the development of acoustic waveguide speaker technology, found in our award-winning Wave® radio, Wave® music system and Acoustic Wave® music systems. Acoustimass® speaker technology reshaped conventional thinking about the relationship between speaker size and sound, enabling palm-sized speakers to produce audio quality previously thought impossible from speakers so small.

Auditioner® audio demonstrator technology removed the guesswork from sound system design for arenas and other large venues. It allows builders, architects and facility managers to hear precisely what a Bose® system will sound like in their building, before any equipment is installed, even if the building only exists as a blueprint.

Bose Lifestyle® systems provided a welcome alternative to conventional component-based systems by offering fully integrated home entertainment solutions. Lifestyle® systems deliver award-winning performance and elegance from elements specifically engineered to work together.

The systems approach has paved the way for numerous Bose solutions, audio and beyond. Integrated systems account for the acclaimed performance of Bose automotive sound systems and Acoustic Noise Cancelling® headsets. The revolutionary Bose suspension system and ElectroForce® linear motion system rely on proprietary Bose software and hardware working together in harmony. All feature technologies available only from Bose.

Today, you can find Bose wherever quality sound is important. From the Olympic games to the Sistine Chapel. From NASA space shuttles to the Japan National Theatre. In the home and on the road, from large outdoor arenas to intimate neighborhood stores, restaurants and clubs, you can hear the realism of the most respected name in sound—Bose.

Bose currently employs about 9,000 staffers and is a major economic force in its hometown of Framingham, Mass. The company is known for its high-end speaker systems and headphone

100 American Dollar equals to Indian Rs. 4425

Bose Corp. reported 2010 revenue of more than $2 billion.


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Sunday, May 01, 2011

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12 comments:

Joseph Pulikotil May 02, 2011  

Very interesting. There are very few people in this world who give away their hard earned money for such noble purposes. Dr. Bose is an exceptional person.

Another great man is Warren Buffet.

Best wishes,
Joseph

sm,  May 02, 2011  

Joseph,,
thanks

Apanatva May 02, 2011  

very good move by mr bose .

very informative post.

Premjee in india doing a lot for basic and primary education .

sm,  May 02, 2011  

Apanatva,,
thanks.

Insignia May 02, 2011  

Requires more than guts and nobility to do this. good!

sm May 02, 2011  

Insignia,,
thanks

Kirtivasan,  May 02, 2011  

Bose really made our country proud.

I wanted to buy a Bose but then I realised I am going to hear music in computer. So no point in having a great hardware. Get a good software for music. And get a reasonably good speaker.

Any suggestions, sm on speakers and software?

sm May 02, 2011  

Kirtivasan,,
thanks.
I will write a article on this topic.

A May 02, 2011  

Very nice post. Bose did good here in the USA

Kirtivasan,  May 03, 2011  

My comments above were due to "the grapes are sour" feeling than a technical jargon. Because Bose speakers are expensive in my standard.

sm,  May 03, 2011  

Kirtivasan,,
thanks.

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