In 1972, at a meeting in Europe, eight people representing companies in the USA, UK, France, Switzerland and Germany formed a HiFi company soon to be known as NAD (New Acoustic Dimension). What made this event so unique was all of these individuals were already involved in the sales and marketing of high fidelity equipment. Indeed most of them were not only HiFi enthusiasts but were also music lovers. Therefore NAD was possibly the first company in the audio industry to be owned and managed by the people involved in the sale of the product rather than in the manufacturing.