Massachusetts Institute of Technology has been given the majority of shares in the private audio technology company Bose by its founder, Dr. Amar Bose, a former MIT fellow and faculty member.
Dr. Bose founded his corporation during his time as a faculty member, in 1964 and has since been involved in both MIT’s activities and running Bose Corp. giving us (me, for example) Acoustimass products and enjoyable sound experience.
According to a statement on the MIT website, “the gift is in the form of non-voting shares. MIT is barred from selling them, and the university will have no role in governing or running the company.”
Boston.com reports that “while Bose Corporation is privately held and doesn’t share financial information, it’s clear that this is no small gift. Last year, the company had revenue of more than $2 billion, a spokesperson told — that’s significantly more than the 2010 revenue of Groupon, LinkedIn, Pandora and Demand Media combined.”
From my (humble) point of view, it’s the simple collision and merging of two of the best mind-shaking names in the world.
