Gentex Announces Closing of VOXX International Acquisition
Gentex (NASDAQ: GNTX) has completed the acquisition of VOXX International, a global supplier of automotive and consumer electronics and premium audio equipment. The acquisition, priced at $7.50 per share for all outstanding VOXX common stock, is expected to increase Gentex's annual revenue by $325 million to $375 million.
The acquisition includes EyeLock® iris biometric technology and the Premium Audio Company, featuring brands like Klipsch®, Onkyo®, and Integra®. Gentex plans to leverage VOXX's expertise in consumer product distribution and retail sales to expand their smart home product portfolio under PLACE® and HomeLink® brands.
Gentex aims to apply their engineering and high-volume electronics manufacturing expertise to VOXX product lines, utilizing existing automotive and consumer distribution channels to maximize profitability.
Gentex (NASDAQ: GNTX) ha completato l'acquisizione di VOXX International, un fornitore globale di elettronica automobilistica e di consumo, nonché di attrezzature audio di alta qualità. L'acquisizione, valutata 7,50 $ per azione per tutte le azioni ordinarie di VOXX in circolazione, dovrebbe aumentare il fatturato annuale di Gentex di 325 milioni a 375 milioni di dollari.
L'acquisizione include la tecnologia biometrica dell'iride EyeLock® e la Premium Audio Company, con marchi come Klipsch®, Onkyo® e Integra®. Gentex prevede di sfruttare l'expertise di VOXX nella distribuzione di prodotti di consumo e nelle vendite al dettaglio per espandere il proprio portafoglio di prodotti per la casa intelligente sotto i marchi PLACE® e HomeLink®.
Gentex punta ad applicare la propria esperienza ingegneristica e nella produzione di elettronica ad alto volume alle linee di prodotti VOXX, utilizzando i canali di distribuzione automobilistica e di consumo esistenti per massimizzare la redditività.
Gentex (NASDAQ: GNTX) ha completado la adquisición de VOXX International, un proveedor global de electrónica automotriz y de consumo, así como de equipos de audio premium. La adquisición, valorada en 7,50 $ por acción para todas las acciones ordinarias de VOXX en circulación, se espera que aumente los ingresos anuales de Gentex en 325 millones a 375 millones de dólares.
La adquisición incluye la tecnología biométrica de iris EyeLock® y la Premium Audio Company, que presenta marcas como Klipsch®, Onkyo® e Integra®. Gentex planea aprovechar la experiencia de VOXX en la distribución de productos de consumo y ventas minoristas para expandir su cartera de productos para el hogar inteligente bajo las marcas PLACE® y HomeLink®.
Gentex tiene como objetivo aplicar su experiencia en ingeniería y fabricación de electrónica de alto volumen a las líneas de productos de VOXX, utilizando los canales de distribución automotriz y de consumo existentes para maximizar la rentabilidad.
젠텍스 (NASDAQ: GNTX)가 VOXX 인터내셔널의 인수를 완료했습니다. VOXX 인터내셔널은 자동차 및 소비자 전자제품, 프리미엄 오디오 장비의 글로벌 공급업체입니다. 이번 인수는 주당 7.50 달러에 모든 VOXX 보통주를 대상으로 하며, 젠텍스의 연간 수익을 3억 2500만에서 3억 7500만 달러 증가시킬 것으로 예상됩니다.
이번 인수에는 EyeLock® 홍채 생체 인식 기술과 Klipsch®, Onkyo®, Integra®와 같은 브랜드를 포함하는 프리미엄 오디오 회사가 포함됩니다. 젠텍스는 VOXX의 소비자 제품 유통 및 소매 판매 전문성을 활용하여 PLACE® 및 HomeLink® 브랜드 아래에서 스마트 홈 제품 포트폴리오를 확장할 계획입니다.
젠텍스는 VOXX 제품 라인에 엔지니어링 및 대량 전자 제조 전문성을 적용하고, 기존의 자동차 및 소비자 유통 채널을 활용하여 수익성을 극대화할 계획입니다.
Gentex (NASDAQ: GNTX) a finalisé l'acquisition de VOXX International, un fournisseur mondial d'électronique automobile et de consommation, ainsi que d'équipements audio haut de gamme. L'acquisition, évaluée à 7,50 $ par action pour toutes les actions ordinaires en circulation de VOXX, devrait augmenter le chiffre d'affaires annuel de Gentex de 325 millions à 375 millions de dollars.
L'acquisition comprend la technologie biométrique pour iris EyeLock® et la Premium Audio Company, qui comprend des marques telles que Klipsch®, Onkyo® et Integra®. Gentex prévoit de tirer parti de l'expertise de VOXX dans la distribution de produits de consommation et les ventes au détail pour élargir son portefeuille de produits pour la maison connectée sous les marques PLACE® et HomeLink®.
Gentex vise à appliquer son expertise en ingénierie et en fabrication d'électronique à haut volume aux lignes de produits VOXX, en utilisant les canaux de distribution automobile et de consommation existants pour maximiser la rentabilité.
Gentex (NASDAQ: GNTX) hat die Übernahme von VOXX International abgeschlossen, einem globalen Anbieter von Automobil- und Verbraucherelektronik sowie hochwertiger Audioausrüstung. Die Übernahme, die mit 7,50 $ pro Aktie für alle ausstehenden VOXX-Stammaktien bewertet wird, wird voraussichtlich den Jahresumsatz von Gentex um 325 Millionen bis 375 Millionen Dollar steigern.
Die Übernahme umfasst die EyeLock® Iris-Biometrietechnologie und die Premium Audio Company, die Marken wie Klipsch®, Onkyo® und Integra® umfasst. Gentex plant, die Expertise von VOXX im Bereich der Distribution von Verbrauchermarken und im Einzelhandel zu nutzen, um sein Produktportfolio für Smart-Home-Lösungen unter den Marken PLACE® und HomeLink® zu erweitern.
Gentex beabsichtigt, sein Ingenieur- und Fertigungswissen für Hochvolumenelektronik auf die VOXX-Produktlinien anzuwenden und bestehende Automobil- und Verbrauchervertriebskanäle zu nutzen, um die Rentabilität zu maximieren.
- Expected revenue increase of $325-375 million annually
- Acquisition of valuable brands including Klipsch, Onkyo, and Integra
- Expansion into consumer electronics distribution and retail channels
- Addition of EyeLock iris biometric technology to product portfolio
- Potential synergies in engineering and manufacturing capabilities
- Integration risks and challenges with multiple business units
- Increased exposure to consumer electronics market volatility
- Additional operational complexity from diverse product lines
- Potential dilution from share purchase
Insights
Gentex's acquisition of VOXX International marks a significant strategic expansion that diversifies its business beyond core automotive electronics. The deal immediately adds
The acquisition provides valuable synergies across multiple dimensions. First, Gentex gains established consumer distribution channels for its growing smart home technology portfolio. Second, VOXX's premium audio brands (Klipsch, Onkyo, Integra) introduce Gentex to higher-margin consumer segments while reducing its automotive sector dependency.
Particularly intriguing is the EyeLock iris biometric technology acquisition, which complements Gentex's existing biometric development efforts. Gentex can now vertically integrate this technology into its automotive and non-automotive product lines while potentially licensing the IP.
The
While integration risks exist when combining different corporate cultures and product categories, the complementary nature of these businesses suggests a thoughtful strategic fit rather than simply acquiring revenue.
This acquisition represents an exceptional technological fit that could accelerate Gentex's diversification beyond automotive electronics. The EyeLock iris biometric platform provides Gentex an immediate advanced position in a rapidly developing security technology with applications spanning automotive, smart home, and enterprise sectors.
From a product integration perspective, Gentex gains immediate opportunities to combine its expertise in sensors, cameras and display systems with VOXX's audio technology, creating differentiated automotive and home solutions. The complementary nature of these technologies enables rapid cross-pollination - imagine Gentex's HomeLink and PLACE smart home systems enhanced with premium Klipsch audio and biometric security.
The manufacturing synergies shouldn't be underestimated. Gentex's sophisticated high-volume electronics production capabilities can transform VOXX's manufacturing efficiency, potentially improving product quality while reducing production costs across consumer audio lines.
Beyond hardware, this acquisition creates a multi-platform software development opportunity. Gentex can now develop integrated ecosystems spanning automotive, home, and personal electronics with unified interfaces and security protocols. This positions Gentex not just as a component supplier but as a comprehensive technology solutions provider with multiple consumer touchpoints.
The combined intellectual property portfolio significantly strengthens Gentex's competitive position, particularly in emerging home automation and biometric security markets where having established distribution channels accelerates market penetration.
ZEELAND, Mich., April 01, 2025 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX) announced today that it has closed on the strategic acquisition of VOXX International, a global supplier of automotive and consumer electronics as well as premium audio equipment.
Gentex is a technology company and long-time supplier of electro-optical products for the global automotive, aerospace, fire protection and medical industries. The company is best known for automotive electronics, but continues to grow its capabilities in vision systems, sensing, AI development, biometrics, home automation, and other smart technologies.
Under the terms of the agreement, which was recently approved by VOXX shareholders, Gentex acquired all the issued and outstanding shares of VOXX common stock not already owned by Gentex for a purchase price of
“VOXX brings products, capabilities, and market expertise that complements our existing business lines, even beyond automotive,” said Gentex Chief Operations Officer and Chief Technology Officer Neil Boehm. “For instance, we’re particularly excited about utilizing VOXX’s expertise in consumer product distribution, retail sales, and mass merchandising as we continue to expand our smart home product portfolio under our PLACE® and HomeLink® brands.”
VOXX’s current business is comprised of products for the automotive OEM and aftermarket, as well as the consumer electronics industry. The acquisition also includes EyeLock®, an iris biometric technology, and the Premium Audio Company, which provides premium audio solutions through world-renowned brands such as Klipsch®, Onkyo® and Integra®.
“We also believe we’ll be able to apply our expertise in engineering and high-volume electronics manufacturing to various VOXX product lines, utilizing their existing automotive and consumer distribution capabilities, to maximize profitability and strengthen their business units. We look forward to working closely with the VOXX team on all these great opportunities,” concluded Boehm.
VOXX International was founded as Audiovox Corporation in 1965 by John Shalam, who most recently served as chairman of the board until stepping down late last year. He led VOXX as it grew to become a worldwide leader in automotive and consumer electronics, and was also active in the Consumer Technology Association (CTA). He helped establish the CTA’s Wireless Communications Division in 2001 and was inducted into the Consumer Technology Hall of Fame in 2009.
“We want to continue the legacy of VOXX Founder John Shalam,” said Gentex President & CEO Steve Downing. “He was a pioneer who united the automotive and consumer electronics industries, and Gentex is perfectly positioned to expand upon his vision.”
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company’s current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “hope,” “intend,” "likely", “may,” “opinion,” “optimistic,” “plan,” “poised,” “predict,” “project,” “should,” “strategy,” “target,” “will,” "work to," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control, and could cause the Company’s results to differ materially from those described. These risks and uncertainties include, without limitation: changes in general industry or regional market conditions, including the impact of inflation; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers and suppliers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; labor shortages, supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation including securities litigation relating to the conduct of our business; and force majeure events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties identified under the heading “Risk Factors” in the Company’s latest Form 10-K and Form 10-Q filed with the SEC, which risks and uncertainties include supply chain constraints that have affected, are affecting, and will continue to affect, general economic and industry conditions, customers, suppliers, and the regulatory environment in which the Company operates. Includes content supplied by S&P Global Mobility Light Vehicle Production Forecast of January 16, 2025 (http://www.gentex.com/forecast-disclaimer).
About Gentex
Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is a technology company that leverages its core competencies, strategic partnerships, acquisitions, and ongoing research to create market-leading positions in a variety of verticals. You can view some of the Company’s latest technology at www.gentex.com.
Gentex Media Contact
Craig Piersma
(616) 747-9821
craig.piersma@gentex.com
FAQ
How much did Gentex (GNTX) pay per share for VOXX International acquisition?
What is the expected revenue increase for GNTX from the VOXX acquisition?
What major brands did Gentex acquire through the VOXX International purchase?
How will the VOXX acquisition benefit Gentex's smart home business?
