VOXX International has purchased Directed for an undisclosed sum.
VOXX has purchased virtually all the assets of Directed, the leading US remote start company, except for its Alcohol Detection Systems business that has been sold to Intoxalock, industry members said.
Directed went into the pandemic with about 260 employees and furloughed at least 40 percent of its workforce in March. Many of those received termination letters on Tuesday. Some of those employees were told Friday they would be working for VOXX.
VOXX and Directed were not available for comment but a formal announcement is expected shortly.
The deal puts VOXX, formerly, the number 3 player in remote start as the leader with as much as 70 percent market share by some estimates.
Last week, many industry members received a notice that Directed halted all shipments as of today through July 7 for an “inventory transition.” It said orders would resume on July 8.