Both companies will introduce further aspects of the new collaboration later this year, including exclusive Bang & Olufsen Yellow Lounge events in four major European cities during 2013 – all in the cause of musical excellence."We're very pleased to be teaming up with Bang & Olufsen," says Max Hole, chairman and CEO of Universal Music Group International. "Our artists are driven by excellence in creating their music while Bang & Olufsen stand for excellence in listening to and enjoying music; we're very excited about what we can achieve by working together." Bang & Olufsen was founded in Struer, Denmark, in 1925 by Peter Bang and Svend Olufsen, two innovative, young engineers devoted to high quality audio reproduction. Since then, the brand has become an icon of performance and design excellence through its long-standing craftsmanship tradition and the strongest possible commitment to high-tech research and development. Still at the forefront of domestic technology, Bang & Olufsen has extended its comprehensive experience with integrated audio and video solutions for the home to other areas such as the hospitality and automotive industries in recent years. Consequently, its current product range epitomizes seamless media experiences in the home as well as in the car and on the move. For more information on Bang & Olufsen, please visit www.bang-olufsen.com. Images are available free of charge from the Bang & Olufsen media centre: http://mediacenter.bang-olufsen.dk. If you are a first-time visitor, please follow the instructions and register as a new user. Universal Music Group Universal Music Group is the global music leader, with wholly owned operations in 60 territories. Its businesses also include Universal Music Publishing Group, one of the industry's premier music publishing operations worldwide. Universal Music Group's record labels include A&M/Octone, Angel, Astralwerks, Blue Note, Capitol Records, Decca, Def Jam Recordings, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Geffen Records, Interscope Records, I.R.S., Island Records, Lost Highway Records, Machete Music, Manhattan, MCA Nashville, Mercury Nashville, Mercury Records, Motown Records, Polydor Records, Republic Records, Universal Music Latino, Verve Music Group and Virgin Records, as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalogue of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG's catalogue is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes Global Digital Business, its new media and technologies division and Bravado, its merchandising company. Universal Music Group is a fully owned subsidiary of Vivendi.