Posted Mon Feb 7, 2011 at 09:00 AM PST by Dick Ward
Klipsch will still run as a standalone operation.
In a transaction expected to close within the next 30 days, Audiovox has announced that it will be buying the speaker manufacturer Klipsch for a price of $166 million.
This purchase is a big move for Audiovox. Afterall, it isn't just the Klipsch brand the company's acquiring in this deal, they'll be getting the Jamo, Energy, and Mirage brands too.
"This highly respected company has for over 60 years been synonymous with premium high-end audio solutions," says Audiovox CEO Patrick Lavelle, "and today enjoys the well-deserved reputation as 'The' preeminent audio brand for residential, professional and personal listening use."
Audiovox says that Klipsch will still be running as a standalone operation and that the current management will remain in place.
Source: PR Newswire
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