The bunny is under new management. Technuity, Inc., the exclusive licensee of the Energizer brand of batteries, was acquired Thursday by Audiovox Corp. for a purchase price of $16.5 million, plus $4 million in debt obligations. The deal was undertaken through subsidiary Audiovox Accessories Corp., Audiovox announced. Audiovox CEO Patrick Lavelle, in announcing the acquisition, called it a move to “further strengthen our accessories product lines and core offerings to our customers.” The Eveready brand of batteries is also under the Technuity umbrella. The move comes just two weeks after Audiovox purchased the RCA brand’s A/V division from Thomson for $19.7 million.
Audiovox signed a definitive agreement with Thomson to acquire its U.S., Canada, China and Hong Kong consumer electronics AV business for $19.7 million. The deal, slated to close by the end of December, is expected to generate about $150 million in sales for Audiovox. “This acquisition adds the well-respected RCA brand for a wide variety of consumer electronics audio video products to our brand portfolio and enhances our purchase of the RCA consumer electronics accessory business made earlier in the year,” said Patrick Lavelle, president and CEO of Audiovox. The deal follows Audiovox’s acquisition of Thomson’s America’s consumer electronics accessory business for about
The equipment manufacturer Audiovox announced Monday that its German subsidiary has agreed to purchase Incaar, Ltd., a British automotive media systems company. The deal, for $402,000, will close in 2008, Audiovox said in a statement; Incaar will also receive an additional $400,000 if earning goals are achieved. Incaar, which produces in-car DVD players, GPS systems, and other accessories, is expected to add $10-$13 million in sales to Audiovox German Holdings in fiscal 2009, Audiovox said.
At Audiovox’s Summer press conference in New York City, president Tom Malone demonstrated several new products, many of which had been shown in early forms at the Consumer Electronics Show in January. The company recently entered the plug-and-play navigation category with a number of new products, the chief of which is the Rock and Road (NVXM1000) which combines GPS navigation along with XM radio and XM Live Traffic updates. “Great category, growing very quickly ... eight million units projected,” said Malone about the navigation category. “We’ve got to do it with innovation, and I think we’ve got the product to do that,” said
Audiovox Electronics Corporation, which has just won its third Original Equipment Award for 2007, is offering a new security/tracking system to new car dealer expeditors called PursuiTrak. This comes just after Audiovox received its second and third OE Sales Awards for its Remote Start and Reverse Assist Systems that are available in several ’08 Subaru models. “New car dealers will now be able to offer their customers a sophisticated product that combines space-age technology with lifestyle conveniences,” said Joe Dentamaro, vice president of security and tracking. “Pursuitrak gives the user vehicle security and peace of mind enhancement features that encompass personal, business and
Back by popular demand, the TechKnow Overload (TKO) College Tour is gearing up for its fourth season on the road. The tour began on March 5 in the number one domestic spring break location of Panama City Beach, Florida, according to CEA, the tour's organizer. The tour will stay in Florida for three weeks to promote the latest consumer electronics products on the market from various manufacturers. In April, the tour will visit 15 top campuses in the Southwest, Midwest and West Coast regions to reach students prior to the critical graduation buying season and summer months. "We realize the best way