Audiovox announced Thursday that it has reached a definitive agreement to acquire Klipsch Group. The companies had announced during CES last month that they had reached a non-binding term sheet that was subject to contingencies.
Audiovox announced Thursday that it has signed a "non-binding term sheet" in order to purchase all of the share of the Klipsch Group.
Audiovox Corp. said Thursday that it has reached a deal to acquire German CE accessories maker Schwaiger.
Audiovox Corp. announced this week that it has reached a deal to become the principal aftermarket supplier of products from Sirius XM Satellite Radio. Audiovox had had a similar deal in place with XM, which preceded the XM-Sirius merger, since 2005.
The mission of the Consumer Electronics Association (CEA) is to support the consumer electronics industry. Year after year, the International CES hosts the world’s greatest festival of technology and ingenuity. In 2007, CE sales are projected to top $155 billion in the United States—a 7 percent growth over 2006. The consumer electronics industry is driving our economy, providing good jobs to two million Americans, and ensuring that America continues to lead the world in innovation. But as is often the case, the success and growth of one industry, particularly an innovative sector fostering change, is perceived as a threat by other industries wedded to entrenched
Audiovox Corporation announced that its subsidiary, Audiovox Electronics Corp., has signed a letter of intent to acquire Terk Technologies Corp. for a purchase price of $13.6 million. Terk, a provider of satellite radio receivers and digital antenna products, also has an agreement in place to develop future car stereo products for XM. Other ventures include TV and AM/FM antennas with an emphasis on high-definition technology. John Shalam, chairman, president and CEO of Audiovox, says, "The proposed acquisition of Terk marks our first transaction since the sale of our wireless business to UTStarcom. Terk brings significant expertise in the specialized satellite radio industry, which