When Apple announces it is entering your business, it’s a bad day for any executive.
For Bob Maresca, president of Bose Corp., the largest consumer electronics company in Massachusetts, that day came on May 28. Apple said it would pay $3 billion to acquire Beats Electronics, a maker of headphones, speakers, and a music streaming service headquartered near Los Angeles.
Maresca’s response was to sue Beats, filing a patent infringement lawsuit and a complaint with the International Trade Commission earlier this month. It’s a defensive gambit that offers tremendous insight into Bose’s challenges today, and one that will shape the future of the company, which marks its 50th birthday this year. Read more in my latest Innovation Economy column in The Sunday Globe.