New Ownership for Onkyo, Klipsch and Integra Brands

[Full Range]

 

New Ownership for Onkyo, Klipsch and Integra Brands

 

 

Voxx International, the parent company of Premium Audio Company and its three brands, Onkyo, Klipsch and Integra, has been acquired by Gentex Corporation.

Gentex Corporation has entered into a definitive agreement to acquire all of the issued and outstanding shares of VOXX common stock not already owned by Gentex for US$7.50 per share, representing an aggregate enterprise value of approximately US$196 million. Gentex had already purchased a large stake in Voxx back in 2023.

Ari Shalam, Chairman of the board of directors of VOXX, said:

The transaction with Gentex ensures a seamless transition for our brands, employees, customers and partners. After a thorough and exhaustive sales process, the disinterested members of the board, the transaction committee and I unanimously support this decision, believing that it represents the best and most reliable path forward to maximize value for all VOXX stockholders. My father, John Shalam, who founded VOXX 60 years ago, and I are incredibly proud of the legacy we have built and the remarkable accomplishments of the VOXX team. We are confident that under Gentex's stewardship, VOXX's legacy will continue to thrive for the benefit of our stakeholders.

So, who is Gentex? According to its website, the company was founded in 1974 and is a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies.  

And why are they interested in Voxx? The press release goes on to state:

The acquisition of VOXX is a strategic addition to the Gentex portfolio of products. The majority of the revenue of VOXX is comprised of automotive OEM and aftermarket business, as well as the consumer electronics industry. Through the transaction, Gentex will gain full access to the EyeLock® iris biometric technology, which represents a unique, extremely accurate and highly secure method of authentication, which will provide further product applications into the Gentex automotive, aerospace and medical markets.

Consumer electronics products, specifically Klipsch, Onkyo, and Integra, have not been forgotten. The press release references the following:

Gentex believes its expertise in high volume manufacturing will help the Premium Audio team to continue its expansion in the consumer technology and connected home space, through newly launched Gentex products, such as Place™, and HomeLink Smart Home Solutions™. Additionally, the Gentex sales and business development teams will further equip the Premium Audio team with additional automaker exposure to build on the early success of several OEM launches of Klipsch® Reference Premiere audio systems.

[rmlowz]

They knew they needed to sell before they went under. IMO

[Peacemaker]

Can’t help but think of future Klipsch Heritage speakers with built in “Homelink Smart Home” capabilities. 🤔

[Trey Cannon Ex-employee]

,,,buttholes puckering this week...

 

[CWOReilly]

1 hour ago, Trey Cannon said:

,,,buttholes puckering this week...

 

Surely…..

[Zen Traveler]

8 hours ago, Trey Cannon said:

,,,buttholes puckering this week...

 

Hope you're doing well Trey! 

[oldtimer]

2 hours ago, CWOReilly said:

Surely…..

I wouldn't call him that...

[Schu]

No horn loaded subwoofer for you!

[mikebse2a3]

I wish only good things for Klipsch and all the employees and friends who work there that I have met since my first visit over 25 years ago through this transition period.

 

miketn🙂

[M_Klipsches]

Serious question: How much is Klipsch worth? I’m thinking that a rag-tag bunch of wealthy, maybe some less wealthy, investors just buy it out? Or buy it back, might be a better way to look at it? Harley-Davidson fans bought it back. 

[Schu]

11 hours ago, M_Klipsches said:

Serious question: How much is Klipsch worth? I’m thinking that a rag-tag bunch of wealthy, maybe some less wealthy, investors just buy it out? Or buy it back, might be a better way to look at it? Harley-Davidson fans bought it back. 

it still needs to be a viable business regardless of who owns it
when corporations buy something like Klipsch, they are really buying the name... Brand Recognition

[mark1101]

You never know what's going to happen in these situations.  We just need to wait and find out.

[Zen Traveler]

31 minutes ago, mark1101 said:

You never know what's going to happen in these situations.  We just need to wait and find out.

Now for the real question: What's going to happen to the Forum? 

16 hours ago, M_Klipsches said:

Serious question: ...I’m thinking that a rag-tag bunch of wealthy, maybe some less wealthy, investors just buy it out? Or buy it back, might be a better way to look at it? Harley-Davidson fans bought it back. 

My guess is that the vast number of serious Klipsch fans only care about Heritage and those are really a niche item in their lineup. Otoh, the patents may be worth more to the new buyers (or sellers, for that matter) than actually manufacturing the speakers. Dunno, but definitely hope they keep the operation in Hope going for decades to come. 

[Woofers and Tweeters]

2 hours ago, Zen Traveler said:

3 hours ago, mark1101 said:

You never know what's going to happen in these situations.  We just need to wait and find out.

Now for the real question: What's going to happen to the Forum? 

Yep, the most important thing to think about. 

 

[Zen Traveler]

11 minutes ago, Woofers and Tweeters said:

Yep, the most important thing to think about. 

 

Ya gotta wonder...🤔 Heck, I havent purchased a Klipsch Speaker in almost 20 years, yet have visited here regularly since well before that time. 😮

[Woofers and Tweeters]

I hope that Klipsch will continue to Engineer, develop, and build speakers that are competitive and often superior to other offerings from the competition here in the USA. It's understandable that the earbuds and other lesser-quality parts can be made elsewhere. 

[Trey Cannon Ex-employee]

On 12/19/2024 at 1:51 PM, Zen Traveler said:

Hope you're doing well Trey! 

They took me out in the last round...No longer an employee. I sure feel for the folks still there. 

 

[Schu]

That's terrible news...

[Peacemaker]

2 hours ago, Trey Cannon said:

They took me out in the last round...No longer an employee. 

 

I thought I read that on one of the FB groups some time ago. 😞

 

I was a bit confused until you posted this because, here, your profile shows a “Klipsch Emoyees” badge. I thought maybe you were back because they realized they made a mistake. 

[Woofers and Tweeters]

6 hours ago, Trey Cannon said:

They took me out in the last round...No longer an employee. I sure feel for the folks still there. 

Hope that you're looking at it as an opportunity.