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Audiovox Changes Name to VOXX
Audiovox, owners of custom brands such as Klipsch, Terk, Jamo, Energy and Mirage, has officially renamed itself to VOXX International.
VOXX International Corporation (NASDAQ:VOXX) has become the new corporate name of Audiovox Corporation.
The company, which owns custom brands such as Klipsch, Terk, Jamo, Energy and Mirage, believes that VOXX International is a name that better represents the widely diversified interests of the company, and the more than 30 global brands it has acquired and grown throughout the years.
This change will create a corporate umbrella for its various subsidiaries and brands and creates a vehicle for each respective brand to emerge with its own identity, according to the company. Klipsch is among the top brands perennially in the CE Pro 100 Brand Analysis study, placing third in 2011.
John Shalam, chairman of the board says, “I founded Audiovox more than 45 years ago and the brand still holds significant meaning to me, and to the thousands of employees who were instrumental in the company’s success. 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.”
“Over the past several years, we embarked on an aggressive M&A campaign to strengthen our product portfolio, enhance distribution and grow our international footprint, all the while, staying within our core competencies in the automotive and consumer electronics and accessories markets," says CEO Patrick Lavelle. We’ve made 10 acquisitions since 2002, including our most recent transaction of Klipsch, and now boast the strongest brands in our company’s history; brands we believe will enable us to expand into related markets. 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.
The company, which owns custom brands such as Klipsch, Terk, Jamo, Energy and Mirage, believes that VOXX International is a name that better represents the widely diversified interests of the company, and the more than 30 global brands it has acquired and grown throughout the years.
This change will create a corporate umbrella for its various subsidiaries and brands and creates a vehicle for each respective brand to emerge with its own identity, according to the company. Klipsch is among the top brands perennially in the CE Pro 100 Brand Analysis study, placing third in 2011.
John Shalam, chairman of the board says, “I founded Audiovox more than 45 years ago and the brand still holds significant meaning to me, and to the thousands of employees who were instrumental in the company’s success. 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.”
“Over the past several years, we embarked on an aggressive M&A campaign to strengthen our product portfolio, enhance distribution and grow our international footprint, all the while, staying within our core competencies in the automotive and consumer electronics and accessories markets," says CEO Patrick Lavelle. We’ve made 10 acquisitions since 2002, including our most recent transaction of Klipsch, and now boast the strongest brands in our company’s history; brands we believe will enable us to expand into related markets. 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.
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Article Topics
News · Audio · Amplifiers · Receivers · Speakers · Accessories · Speakers · Audio · Klipsch · Amplifiers · Energy · Mirage · Jamo · Terk · Antenna · Audovox ·About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
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