Acquisitions
2011 – In March 2011, Audiovox purchased the designer and maker of high-performance audio equipment, Klipsch, for $166 million.
2010 – In February 2010, the Company’s new subsidiary, Invision Automotive Systems, Inc. completed the acquisition of the assets of Invision Industries, Inc., a manufacturer of rear seat entertainment systems to OEM’s, ports and car dealers for a total cash purchase price of $10.3 million.
2009 – In October 2009, Audiovox German Holdings GmbH completed the acquisition of certain assets of Schwaiger GmbH, a German manufacturer of consumer electronics, SAT and receiver technologies for a total net asset payment of $4.3 million.
2007 – In December 2007, Audiovox completed its acquisition of certain assets and liabilities of Thomson’s consumer electronics, audio video business (U.S., Canada, Mexico, China and Hong Kong), as well as the rights to the RCA brand for the audio video field of use for a total purchase price of $19.7 million. Audiovox also acquired the audio video brands of RCA, Advent and Acoustic Research, as a follow-up to a prior transaction with Thomson for Accessories. Products acquired and sold through Audiovox’s nationwide distribution network include digital clock radios, camcorders and voice recorders, and MP3 players. With this acquisition, the Company added approximately $150 million in annual sales, as well as the ability to generate royalty income through a separate licensing agreement with Multimedia Device Ltd.
2007 – In November 2007, Audiovox acquired all of the outstanding stock of Technuity, Inc., an emerging leader in the battery and power products industry and the exclusive licensee of the Energizer brand in North America for a total purchase price of $20.4 million. As part of this transaction, Audiovox acquired the rights to market Energizer’s line of rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras, DVD players and other power supply devices. The addition of Technuity strengthened the Company’s accessory product lines and core offerings and led to an increase in market share in the consumer electronics accessory business. Additionally, in March 2008, Audiovox built upon this acquisition by acquiring the licensing rights to market and distribute Energizer-branded products (rechargeable power packs and other power related accessories) throughout Mexico, Central America, the Caribbean and South America, excluding select locations.
2007 – In January 2007, Audiovox completed its acquisition of Thomson's American consumer electronics accessory business for a total purchase price of approximately $59 million. This deal gave Audiovox the rights to the RCA brand for consumer electronics accessories. The acquisition also included the Recto, Spike master, Amebic and Dishwasher brands for use on any products and the Jensen, Advent, Acoustic Research and Road Gear brands for electronics products in 2003.
2007 – In August 2007, Audiovox Germany completed the acquisition of certain assets of Incan Limited, a U.K. business that specializes in rear-seat electronics systems, for a total purchase price of $0.4 million. This acquisition added a new, international OEM component and greatly enhanced the Company’s product development and engineering capabilities to service the OEM, European car markets.
2007 – In March 2007, Audiovox Germany completed its stock acquisition of Oehlbach, a European market leader in the accessories business for a total cash purchase price of $6.6 million. With the addition of Oehlbach, the Company added an electronics accessory product lines to its European business to complement its consumer electronics offering.
2007 – In January, 2007, Audiovox completed the acquisition of certain assets and liabilities of Thomson Americas, consumer electronics accessory business for a total purchase price of approximately $60 million. This acquisition included the rights to the RCA Accessories brand for consumer electronics accessories, as well as the Recoton, Spikemaster, Ambico and Discwasher brands for use on any product category, and the Jensen, Acoustic Research and Road Gear brands for consumer electronics accessories.
2005 – In January 2005, Audiovox purchased certain assets and liabilities of Terk Technologies Corp. (“Terk”) for $15.3 million. With this acquisition, Audiovox increased its market share for satellite radio products, primarily through an exclusive arrangement with XM Satellite Radio for direct-connect products. Additionally, the Company acquired its first accessories product line with high-tech antennas and HDTV products at the forefront.
2003 – In July 2003, Audiovox acquired the U.S. audio operations of Recoton and the outstanding capital stock of Recoton German Holdings GmbH for a total purchase price of $40.4 million. This acquisition added the core domestic brands of Advent, Acoustic Research and Jensen for mobile and consumer electronics, as well as a host of international brands. It also marked the Company’s entrance into the European markets, the creation of Audiovox Germany, and paved the way for future expansion.
2002 – In March 2002, Audiovox purchased certain assets of Code Systems, Inc., an automotive security product company for approximately $7.1 million. This acquisition added two prominent brands in Code Alarm and Chapman, and marked the Company’s entrance into the OEM marketplace. Code has since grown to become a leading supplier of security products to select OE customers including GM, Chrysler, Ford, Toyota and more.
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