Audiovox Corporation (NASDAQ: VOXX) is an American consumer electronics company founded in 1965 and headquartered in Hauppauge, New York.
Among the domestic brands now owned by Audiovox are: Acoustic Research, Advent, Code Alarm, Invision, Jensen, Prestige, RCA, and Terk. The international brands they own include Heco, Incaar, Oehlbach, Mac Audio, Magnat and Schwaiger, among others. In addition the company licenses the Energizer brand.
VOXX International Corp also distributes private labels through a domestic and international distribution network. The Company also functions as an original equipment manufacturers (OEM) supplier to several customers. .
In 1975 Audiovox reached its first $100 million in sales.
In 1981 Audiovox entered the vehicle security market.
In 1984, Audiovox entered the cellular market with its first mobile unit and formed a strategic supply alliance with Toshiba Corp
In 1987, Audiovox IPO was listed as VOX on the American Stock Exchange.
In 1988, Audiovox shipped its first portable cellular telephone.
In 1991, the company split into two marketing groups: wireless and electronics; ACC introduced Minivox.
In 1994, Audiovox issued subordinated debentures.
In 1995, Audiovox Communications Corp. was formed as wholly owned subsidiary.
In 1996, ACC sold 1 million handsets; entered the consumer electronics marketplace with its first line of home and portable stereos; licensed the Audiovox brand for the first time; converted subordinated debentures; and began selling aftermarket mobile video systems.
In 1998, ACC shipped its first CDMA digital handset and introduced FRS (Family Radio Service) two-way radios.
In 1999, Audiovox reached $1 billion in sales with an 88% increase over 1998; 1999 ACC sales increased 110% and Audiovox Electronics sales increased 31%. ACC ranked number three overall and number two in the CDMA wireless market. Toshiba made a 5% equity investment in ACC. ACC shipped its first TDMA handset and introduced GSM phones for international use. The electronics division introduced its first web-related product. Audiovox FRS radios gained 20% market share. Audiovox announced a follow-on stock offering.
In 2000, Audiovox moved trading to Nasdaq under VOXX; announced an OEM contract with Nissan North America for the 2000 model year; formed Audiovox Electronics Corp, a wholly owned subsidiary for the marketing of consumer and mobile electronics; was added to the Russell 2000; received an OEM contract to supply mobile video for Ford 2001 models introduced its first MP3 Player; completed its follow-on stock offering and increased its public float by two million shares; and announced its first GMRS/GPS two-way radio.
In 2001, Audiovox reached a leadership position in the mobile video market. Its portable DVD players gained number three market share, and Audiovox ranked number 1 in CDMA handsets.
In 2002, Toshiba increased its investment in ACC to 25%.
In 2002, Audiovox acquired the assets of Code-Alarm Inc., a vehicle security company; launched Pocket PC with Microsoft format; entered the satellite radio market with products in both XM and Sirius formats; entered the PDA market with Verizon; and added Sprint to its marketing partners on the PDA products. Audiovox also debuted its first color screen phone and partnered with Buena Vista on Disney promotion.
2010 – In February 2010, the Company’s new subsidiary, Invision Automotive Systems, Inc. completed the acquisition of the assets of Invision Industries, Inc., a manufacturer of rear seat entertainment systems to OEM’s, ports and car dealers for a total cash purchase price of $10.3 million.
2009 – In October 2009, Audiovox German Holdings GmbH completed the acquisition of certain assets of Schwaiger GmbH, a German manufacturer of consumer electronics, SAT and receiver technologies for a total net asset payment of $4.3 million.
2007 – In December 2007, Audiovox completed its acquisition of certain assets and liabilities of Thomson’s consumer electronics, audio video business (U.S., Canada, Mexico, China and Hong Kong), as well as the rights to the RCA brand for the audio video field of use for a total purchase price of $19.7 million. Audiovox also acquired the audio video brands of RCA, Advent and Acoustic Research, as a follow-up to a prior transaction with Thomson for Accessories. Products acquired and sold through Audiovox’s nationwide distribution network include digital clock radios, camcorders and voice recorders, and MP3 players. With this acquisition, the Company added approximately $150 million in annual sales, as well as the ability to generate royalty income through a separate licensing agreement with Multimedia Device Ltd.
2007 – In November 2007, Audiovox acquired all of the outstanding stock of Technuity, Inc., an emerging leader in the battery and power products industry and the exclusive licensee of the Energizer brand in North America for a total purchase price of $20.4 million. As part of this transaction, Audiovox acquired the rights to market Energizer’s line of rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras, DVD players and other power supply devices. The addition of Technuity strengthened the Company’s accessory product lines and core offerings and led to an increase in market share in the consumer electronics accessory business. Additionally, in March 2008, Audiovox built upon this acquisition by acquiring the licensing rights to market and distribute Energizer-branded products (rechargeable power packs and other power related accessories) throughout Mexico, Central America, the Caribbean and South America, excluding select locations.
2007 – In January 2007, Audiovox completed its acquisition of Thomson's American consumer electronics accessory business for a total purchase price of approximately $59 million. This deal gave Audiovox the rights to the RCA brand for consumer electronics accessories. The acquisition also included the Recto, Spike master, Amebic and Dishwasher brands for use on any products and the Jensen, Advent, Acoustic Research and Road Gear brands for electronics products in 2003.
2007 – In August 2007, Audiovox Germany completed the acquisition of certain assets of Incan Limited, a U.K. business that specializes in rear-seat electronics systems, for a total purchase price of $0.4 million. This acquisition added a new, international OEM component and greatly enhanced the Company’s product development and engineering capabilities to service the OEM, European car markets.
2007 – In March 2007, Audiovox Germany completed its stock acquisition of Oehlbach, a European market leader in the accessories business for a total cash purchase price of $6.6 million. With the addition of Oehlbach, the Company added an electronics accessory product lines to its European business to complement its consumer electronics offering.
2007 – In January, 2007, Audiovox completed the acquisition of certain assets and liabilities of Thomson Americas, consumer electronics accessory business for a total purchase price of approximately $60 million. This acquisition included the rights to the RCA Accessories brand for consumer electronics accessories, as well as the Recoton, Spikemaster, Ambico and Discwasher brands for use on any product category, and the Jensen, Acoustic Research and Road Gear brands for consumer electronics accessories.
2005 – In January 2005, Audiovox purchased certain assets and liabilities of Terk Technologies Corp. (“Terk”) for $15.3 million. With this acquisition, Audiovox increased its market share for satellite radio products, primarily through an exclusive arrangement with XM Satellite Radio for direct-connect products. Additionally, the Company acquired its first accessories product line with high-tech antennas and HDTV products at the forefront.
2003 – In July 2003, Audiovox acquired the U.S. audio operations of Recoton and the outstanding capital stock of Recoton German Holdings GmbH for a total purchase price of $40.4 million. This acquisition added the core domestic brands of Advent, Acoustic Research and Jensen for mobile and consumer electronics, as well as a host of international brands. It also marked the Company’s entrance into the European markets, the creation of Audiovox Germany, and paved the way for future expansion.
2002 – In March 2002, Audiovox purchased certain assets of Code Systems, Inc., an automotive security product company for approximately $7.1 million. This acquisition added two prominent brands in Code Alarm and Chapman, and marked the Company’s entrance into the OEM marketplace. Code has since grown to become a leading supplier of security products to select OE customers including GM, Chrysler, Ford, Toyota and more.