Audiovox Corporation is now VOXX International Corporation– a name which better reflects the 30 brands now sold by the company, said Audiovox Monday.
Over the past several years, VOXX has embarked on an aggressive acquisition campaign that resulted in the purchase of Klipsch, Jamo, RCA, Jensen, Code Alarm, Excalibur, Prestige and other brands. Ten brands have been purchased since 2002.
Additionally, the company now has an International footprint in Europe, Asia, Mexico and South America.
John Shalam, Chairman of the Board who founded Audiovox over 45 years ago said, “While Audiovox remains a well-known and trusted consumer brand today, it became clear that due to the expansion of our portfolio, the company, our distribution partners and our customers, would be better served with a name that better reflects our strategy and global reach. We believe VOXX International Corporation retains the heritage of Audiovox, while at the same time, opens up new avenues to market our brands under a corporate umbrella.”
Audiovox Electronics, remains a subsidiary of VOXX International.
VOXX CEO Pat Lavelle said, “Our operating subsidiaries will retain their independence and will look to collaborate on global business opportunities, while the corporate leadership continues to focus on growth, and realizing synergies and cost improvements throughout the organization. Everything we have and continue to do is about enhancing shareholder value for years to come.”
VOXX International will continue to trade on the Nasdaq National Market under the ticker symbol VOXX.
Source: VOXX International Corp.