Voxx Buys Hirshmann
Voxx International said Thursday that it has purchased German supplier Car Communication Holding GmbH and its subsidiary, Hirshmann.
"The acquisition of Hirschmann meets the criteria I had previously laid out and is a natural fit for our Company as we further expand our OEM automotive business," Voxx CEO Patrick Lavelle said in a statement. "Hirschmann has been supplying automotive manufacturers for nearly 70 years and is a recognized leader in both antenna solutions and mobile tuners with strong, long-term OEM relationships."
The purchase is seen as a way for Voxx to bolster its position in emerging markets, including China.