Connect with us

Hi, what are you looking for?

Articles

Klipsch Sold to Audiovox

674022.jpg

Audiovox Corporation announced it has completed the acquisition of Klipsch Group, Inc. and its worldwide subsidiaries ("Klipsch") for a total purchase price of $166 million, plus related transaction fees and expenses.

Patrick Lavelle, President and CEO of Audiovox Corporation stated, "We are very excited to close this acquisition because it not only adds world-class brands with strong distribution, both domestically and abroad, but it also gives us entre into the high-end installation market at both the residential and commercial level. In addition to #1 market positions in the U.S., Klipsch brands are recognized throughout EMEA, the Americas, and the Asia-Pacific region, and we plan to continue expansion into other key international markets." Lavelle continued, "Klipsch R&D capabilities and its quality reputation are second to none, and we intend for that to continue as we welcome the Klipsch team to Audiovox."

Klipsch

Fred Klipsch, Klipsch Group Chairman and CEO, stated, "I too am excited about this acquisition and have no doubt that together we will successfully execute on our growth plans, expand our market positions in both our core areas and new markets, while never losing sight of the brand, the quality and our customers. Klipsch will always be dedicated to providing consumers with the best speaker solutions the industry has to offer, while supporting our worldwide customers at the very highest level. Our team is excited to become part of Audiovox and looks forward to the opportunities ahead."

For over 65 years, Klipsch has led the market through innovation, and today, Klipsch is recognized as the #1 speaker company with leading market positions across all of its primary categories. As a result of this transaction, Klipsch has become a wholly owned subsidiary of Audiovox Corporation and will operate as a stand-alone entity, headquartered in Indianapolis and run by its current management team.

About Audiovox
Audiovox (NASDAQ: VOXX) is a recognized leader in the marketing of mobile and consumer electronics products and accessories. The Company has a substantial International operation selling products through offices in Europe, Asia, Venezuela and Mexico. In addition, the Company is a supplier of Original Equipment (OE) both domestically and internationally to a significant number of the major vehicle manufacturers in the world.

Among the lines marketed by Audiovox are its mobile entertainment products including rear seat entertainment systems, mobile multimedia systems and satellite radio. Vehicle security, remote start and collision avoidance products round out our mobile electronic lines. Our consumer electronics products include digital camcorders, DVRs and Internet radios. We also supply high-end TV remote controls, wireless speakers, headphones, the leading line of HD indoor/outdoor antennas, connectivity products, and personal sound amplifiers.

You can find Audiovox products in virtually every distribution channel from the world's largest retailers to car dealers to small independents. The Company owns over twenty global brands and markets its products domestically primarily under Audiovox, RCA, Jensen, Acoustic Research, and Advent. Key European brands include Magnat, Mac Audio, Heco, Schweiger and Oehlbach.

About Klipsch Group, Inc.
Founded in 1946 by Paul W. Klipsch, one of America's most celebrated audio pioneers, and then acquired by Fred and Judy Klipsch in 1989, Klipsch has long been a high-end name in speaker design. Today, the brand continues its success as a leading global manufacturer of premium speaker solutions for home, personal and commercial use. From massive professional cinema speakers to tiny headphones, Klipsch remains committed to delivering the most powerful, detailed and emotional sound experiences.

The products sold by Klipsch include home theater systems, floor standing speakers, bookshelf speakers, center speakers, surround speakers and 5.1 systems, subwoofers, headphones, flat panel speakers, architectural speakers, outdoor speakers, iPod/Computer speakers, cinema speakers, business music systems, accessory products and more.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

You May Also Like

Car Speakers

Klipsch and Panasonic have partnered on a new reference premiere 24-channel audio system for the 2025 Infiniti QX80.

New Products

Klipsch names its new portable Bluetooth speakers after iconic American music cities: Austin, Nashville and Detroit.

New Products

The One Plus and The Three Plus are retro styled tabletop wireless music systems to bring sound into any room.

Hi-Fi Components

The EISA Awards 2023-2024 include 82 winners across 6 categories. We have the full list of winning products.

Daily Deals

With savings up to 65% off, it's a great time to purchase Klipsch hi-fi or home theater speakers during their Christmas in July Sale.

New Products

Your neighbors might hate you if you run a stereo pair of Klipsch's GIG Party Loudspeakers. Your next pool party almost demands that you...

Daily Deals

Save up to 20% off Klipsch Reference Premiere loudspeakers and select Pioneer Elite home theater receivers.

New Products

Starting at $699 USD, the new Klipsch Reference Premiere Subwoofer Series includes 4 models with wireless support and some really large drivers.

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers