Audiovox Buys High-End Speaker Manufacturer Klipsch

 

By Posted 3 Mar 2011, 23:59

For those of you that like to stay up to date with speakers and other audio equipment alike, we have got some exciting news. You may have heard of Klipsch, considering they are world famous as a company that makes high-end audiophile speakers both commercially and domestically for music fans and home theater entertainment.

Last month Audiovox, who are famous for in-car media installation and are responsible for the first car Blu-ray player, signed an agreement with Klipsch that would entitle them to Klipsch and all its subsidiaries.

As Slashgear reports, Audiovox were to spend $166 million on the deal, and now the deal has indeed been sealed for that price, seemingly benefitting both parties. Klipsch is expected to make $170 million in sales by the beginning of 2012 and Audiovox cash flow will benefit immediately from the purchase.

Together both companies are reportedly now worth in the region of $730 million. Klipsch is now owned by Audiovox but will be still run as Klipsch store. CEO and President of Audiovox Patrick Lavelle has said they are delighted with the acquisition as they not only will benefit from ‘world-class brands’ but also have number one spots in the U.S market as well as being know across other regions.

To find out what else was said check out the Slashgear link above. What do you think to this new coalition? Do you use Klipsch equipment, if so what do you think? Let us know in the comments below.

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