Audiovox Buys Klipsch Group (Jamo, Mirage, Energy and Athena)
by Clint DeBoer — last modified January 10, 2011
Audiovox Buys Klipsch Group
Big news in the audio world this week. In a move that took everyone by surprise – at least those not in the know – Indianapolis high-end speaker maker Klipsch Group has agreed to be purchased by New York-based Audiovox Corp. Audiovox said on Thursday it has signed a “non-binding term sheet” to acquire all of Klipsch’s shares. That’s right, Audiovox, a rather large company (bigger than some might think) will soon control all of Klipsch’s brands, including Jamo, Mirage, Energy and Athena. Audiovox is a leader in the automotive electronics and accessories field and even have a large presence in the consumer electonics category. Audiovox markets products under the Audiovox, RCA, Jensen, and Acoustic Research brand names.
Audiovox, through Acoustic Research makes like 13 tabletop radios, accessories such as remote controls and networking over powerlines. They also produce headphones & earbuds, speakers, cables and power protection devices (among other things). RCA, a brand that is very well known to anyone who lived as a generation X-er or prior, and are still manufacturing products in the consumer electronics sector – from clock radios, to mp3 players to home and portable audio solutions. Jensen is almost legendary in its available mobile and marine products. n the home audio front they make all manner of gadgets, gizmos and CE products for a variety of uses and needs. One of their specialtues is branded products, which are sponsored by the likes of M&M and Studebaker, among others. The Audiovox brand, of course, is extremely robust and produces electronics in the segments of Consumer, Mobile and Corporate.
What they appear to lack – at least as far as we’re aware – is a strong presence in the consumer electronics loudspeaker market. The acquisition of Klipsch Group should change that.
“The Klipsch brand is world-renowned and we believe Audiovox shareholders will benefit from the value of their unique market position, diversified customer base in home and professional channels, and their ongoing commitment to innovation.”
– Audiovox CEO Patrick Lavelle
According to an Indianapolis report, Klipsch officials have yet to comment on the proposed deal. Founded in 1945 by Paul Klipsch, the company has 210 employees, including 130 in Indianapolis. It has annual revenue of more than $175 million.