Whoa: Audiovox Now Owns Klipschby Matt Burns, crunchgear.com
March 3rd 2011
Audiovox is massing an impressive horde of consumer electronics companies with Klipsch the latest addition. The $166 million acquisition puts Klipsch under the same corporate umbrella as Acoustic Research, Terk, Energizer, Jensen, and RCA although Technicolor actually owns the classic trademark and Audiovox simply licenses it for products.
This purchase is expected to reap near-immediatly cash for the company as the purchase rang in just north of $166 million and Klipsch is expected to hit $170 million in sales this year alone. This is thanks brand’s perception as a leading speaker company and great distribution channels such as Best Buy. Hopefully Audiovox’s involvement won’t taint that because, well, Audiovox’s rep isn’t exactly on the same level.
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