History
The company began as Kaman Music Corporation /kəˈmɑːn/, a part of the Kaman Corporation founded by Charles Kaman. In addition to his business interests in aviation, Kaman was a guitarist who came to explore the use of composite materials technologies to guitar building. He and his engineers created the round-backed, composite-body Ovation guitar which revolutionized the guitar industry since about 1966. On 29 October 2007 the Kaman Corporation announced that it had agreed to a definitive deal to sell its subsidiary, the Kaman Music Corporation, to Fender Musical Instruments Corporation for $117 million. On January 2, 2008 Kaman received approximately $120 million in cash from Fender Musical Instruments Corporation, which included the purchase price of $117 million and certain working capital and cash adjustments.
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