VOXX International Corporation Announces Strategic Alternatives Process to Maximize Valuation
VOXX International (NASDAQ: VOXX), a leading manufacturer of automotive and consumer technologies, has announced that its board of directors is exploring strategic alternatives to maximize shareholder value. The board will consider various options, including a potential sale of the company, sale of segments, operational improvements, or other strategic transactions.
To support this process, VOXX has established a strategic transactions committee and retained Solomon Partners as financial advisor and Bryan Cave Leighton Paisner LLP as legal advisor. The company has not set a timetable for completion and will only disclose further developments if necessary. VOXX International has grown into a worldwide leader in the Automotive Electronics and Consumer Electronics industries, with a portfolio of approximately 30 trusted brands.
VOXX International (NASDAQ: VOXX), un produttore leader di tecnologie automotive e per consumatori, ha annunciato che il suo consiglio di amministrazione sta esaminando alternative strategiche per massimizzare il valore per gli azionisti. Il consiglio valuterà varie opzioni, inclusa una potenziale vendita dell'azienda, la vendita di segmenti, miglioramenti operativi o altre transazioni strategiche.
Per supportare questo processo, VOXX ha istituito un comitato per le transazioni strategiche e ha incaricato Solomon Partners come consulente finanziario e Bryan Cave Leighton Paisner LLP come consulente legale. L'azienda non ha fissato un cronoprogramma per la conclusione e comunicherà ulteriori sviluppi solo se necessario. VOXX International è diventata un leader mondiale nei settori dell'elettronica automotive e dell'elettronica di consumo, con un portafoglio di circa 30 marchi affidabili.
VOXX International (NASDAQ: VOXX), un fabricante líder de tecnologías automotrices y de consumo, ha anunciado que su junta directiva está explorando alternativas estratégicas para maximizar el valor para los accionistas. La junta considerará varias opciones, incluida una venta potencial de la empresa, la venta de segmentos, mejoras operativas u otras transacciones estratégicas.
Para apoyar este proceso, VOXX ha establecido un comité de transacciones estratégicas y ha contratado a Solomon Partners como asesor financiero y a Bryan Cave Leighton Paisner LLP como asesor legal. La empresa no ha establecido un cronograma para su finalización y solo divulgará más desarrollos si es necesario. VOXX International se ha convertido en un líder mundial en las industrias de Electrónica Automotriz y Electrónica de Consumo, con un portafolio de aproximadamente 30 marcas de confianza.
VOXX International (NASDAQ: VOXX)는 자동차 및 소비자 기술의 선도 제조업체로, 이사회가 주주 가치를 극대화하기 위해 전략적 대안을 탐색하고 있다고 발표했습니다. 이사회는 회사의 잠재적 판매, 세그먼트 판매, 운영 개선 또는 기타 전략적 거래를 포함한 다양한 옵션을 고려할 것입니다.
이 프로세스를 지원하기 위해 VOXX는 전략적 거래 위원회를 구성하고, 재무 고문으로 Solomon Partners를, 법률 고문으로 Bryan Cave Leighton Paisner LLP를 두었습니다. 회사는 완료 일정은 정하지 않았으며 필요한 경우에만 추가 발전 사항을 공개할 것입니다. VOXX International은 자동차 전자 제품 및 소비자 전자 제품 산업에서 약 30여 개의 신뢰할 수 있는 브랜드 포트폴리오를 가지고 세계적인 리더로 성장했습니다.
VOXX International (NASDAQ: VOXX), un fabricant leader de technologies automobiles et de consommation, a annoncé que son conseil d'administration explore des alternatives stratégiques pour maximiser la valeur pour les actionnaires. Le conseil examinera diverses options, y compris une vente potentielle de l'entreprise, la vente de segments, des améliorations opérationnelles ou d'autres transactions stratégiques.
Pour soutenir ce processus, VOXX a établi un comité des transactions stratégiques et a retenu Solomon Partners comme conseiller financier et Bryan Cave Leighton Paisner LLP comme conseiller juridique. L'entreprise n'a pas fixé de calendrier pour la finalisation et ne divulguera d'autres développements que si nécessaire. VOXX International est devenue un leader mondial dans les secteurs de l'électronique automobile et de l'électronique grand public, avec un portefeuille d'environ 30 marques de confiance.
VOXX International (NASDAQ: VOXX), ein führender Hersteller von Automobil- und Verbrauchertechnologien, hat bekannt gegeben, dass der Vorstand strategische Alternativen prüft, um den Wert für die Aktionäre zu maximieren. Der Vorstand wird verschiedene Optionen in Betracht ziehen, darunter einen möglichen Verkauf des Unternehmens, den Verkauf von Segmenten, betriebliche Verbesserungen oder andere strategische Transaktionen.
Um diesen Prozess zu unterstützen, hat VOXX ein Komitee für strategische Transaktionen eingerichtet und Solomon Partners als Finanzberater sowie Bryan Cave Leighton Paisner LLP als Rechtsberater engagiert. Das Unternehmen hat keinen Zeitplan für den Abschluss festgelegt und wird weitere Entwicklungen nur bei Bedarf bekannt geben. VOXX International ist zu einem weltweiten Marktführer in den Bereichen Automobilelektronik und Verbraucherelektronik gewachsen, mit einem Portfolio von etwa 30 vertrauenswürdigen Marken.
- Board of directors exploring strategic alternatives to maximize shareholder value
- Potential options include sale of the company or segments, operational improvements
- Established strategic transactions committee with financial and legal advisors
- VOXX is a worldwide leader in Automotive and Consumer Electronics industries
- Portfolio of approximately 30 trusted brands
- No assurance that the process will result in a particular transaction or strategic outcome
- No set timetable for completion of the strategic alternatives process
VOXX International's strategic alternatives exploration signals potential significant changes ahead. This move often indicates management's belief that the company's market value doesn't reflect its true worth. Key points to consider:
- The broad scope of options, including a potential sale of the entire company or segments, suggests a comprehensive review of VOXX's structure and operations.
- The formation of a dedicated committee and engagement of financial and legal advisors underscores the seriousness of this initiative.
- With a diverse portfolio spanning automotive and consumer electronics, VOXX might attract interest from various industry players or private equity firms.
However, investors should note that such processes don't guarantee a transaction. The lack of a set timetable and the company's stance on future disclosures indicate this could be a prolonged process with uncertain outcomes.
This strategic review comes at a important time for VOXX and the broader electronics industry. Several factors are at play:
- The automotive sector is undergoing rapid transformation with the shift towards electric and autonomous vehicles, potentially increasing demand for VOXX's in-vehicle entertainment and security products.
- Consumer electronics face challenges from supply chain disruptions and changing consumer behaviors post-pandemic.
- VOXX's diverse brand portfolio (approximately 30 trusted brands) could be seen as an asset or a potential target for streamlining, depending on the strategic direction chosen.
The outcome of this process could reshape VOXX's market position and impact industry dynamics, especially if it leads to consolidation or spin-offs within the automotive or consumer electronics segments.
As part of this process, the board will consider a wide range of options for VOXX, including, among other things, a potential sale of the Company, a sale of segments, operational improvements, or other strategic transactions. Per its fiduciary responsibilities and to support its evaluation process, the VOXX board has established a strategic transactions committee which has retained Solomon Partners as financial advisor and Bryan Cave Leighton Paisner LLP as legal advisor.
There can be no assurance that this process will result in VOXX pursuing a particular transaction or other strategic outcome. VOXX has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary.
About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) has grown into a worldwide leader in the Automotive Electronics and Consumer Electronics industries. Over the past several decades, with a portfolio of approximately 30 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world's leading automotive manufacturers. For additional information, please visit our website at www.voxxintl.com. For the most recent investor presentation on the Company, please click here.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release constitute forward-looking statements and thus may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to the risk factors described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended February 29, 2024, and other filings made by the Company from time to time with the SEC, as such descriptions may be updated or amended in any future reports we file with the SEC. The factors described in such SEC filings include, without limitation: impacts related to the COVID-19 pandemic, global supply shortages and logistics costs and delays; global economic trends; cybersecurity risks; risks that may result from changes in the Company's business operations; operational execution by our businesses; changes in law, regulation or policy that may affect our businesses; our ability to increase margins through implementation of operational improvements, restructuring and other cost reduction methods; our ability to keep pace with technological advances; significant competition in the automotive electronics, consumer electronics and biometrics businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations; and restrictive debt covenants. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the War in the
Investor Relations Contact:
Glenn Wiener, GW Communications (for VOXX)
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation
FAQ
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