Audiovox Buys Klipsch for US$166 Million
Audiovox is expanding their businesses by acquiring one of the world's most famous audio brands, Klipsch, in a deal said to be worth US$166 million. Fans of the Klipsch brand need not fear, however, as Klipsch will continue its operations, as a stand-alone business, and will remain headquartered in Indianapolis.
Wall Street Journal - Audiovox Corp. (VOXX) said it will buy privately held audio-products maker Klipsch Group Inc. for $166 million.
Audiovox President and Chief Executive Patrick Lavelle said the deal "strong and stable base of retail, e-commerce, commercial distribution and professional installation business partners in North America, Europe and around the world. Klipsch Group provides an outstanding new distribution channel for our company to reach the home and commercial-installation markets."
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