Fender Musical Instruments Corp. has agreed to acquire Kaman Music Corp. for approximately $117 million in cash.

Fender, maker of the Stratocaster and other guitar brands, expects to complete the acquisition of Kaman by Jan. 1, 2008. Kaman independently distributes instruments and accessories such as Ovation Guitars, Toca hand percussion products, Sabian cymbals, Takamine guitars and Gretsch drums.

Kaman Music Corp. will retain its current president, Edward Miller.