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Title Date Hit File
DUAL ELECTRONICS TO ACQUIRE JENSEN CAR AUDIO BUSINESS, EXPANDING PRODUCT OFFERING FOR THE 12V MARKET
Jul 13, 2015 2,469

DUAL ELECTRONICS TO ACQUIRE JENSEN CAR AUDIO BUSINESS, EXPANDING PRODUCT OFFERING FOR THE 12V MARKET

Heathrow, Fla (July 13, 2015 - Namsung America, Inc. d/b/a Dual Electronics Corporation has entered into a definitive agreement with Voxx International Corporation (NASDAQ: VOXX) to acquire the Jensen branded aftermarket car audio business. Upon completion of the transaction, which is expected on August 1, 2015, Dual will add the Jensen multimedia, head units, speakers and amplifier products to its car audio lineup. The acquisition complements the current assortment of Dual- and Axxera-branded car audio products, and allows the company to meet the needs of a broader range of customers in the 12V market.

\"We are excited to make this significant acquisition, as I know first hand that Jensen is one of the most well-known and powerful brands in the 12V industry,\" said Jim Braun, President and CEO, Dual Electronics. \"We look forward to advancing Jensens long standing and proud heritage for many years to come. We are also looking forward to continuing to work with Jensen\'s suppliers and customers for a seamless transition and continued mutual success,\"added Braun.

\"VOXX has placed the Jensen brand in very capable hands,\" said Tom Malone, President Voxx Electronics Corp \" and this change will allow Voxx Electronics to focus its sales, marketing and product development efforts on what have been our core categories for many years. Rear seat entertainment, remote start and security, safety and convenience accessories and our telematics initiatives will all benefit from this increased focus. We remain committed to the 12v market, to our loyal retail and expeditor customers and to the advancement of new and emerging technologies within this space. We would also like to wish Jim and the entire Dual team nothing but success.\"

Dual Electronics will continue to manage the aftermarket car audio business from its headquarters in Heathrow, Florida.



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About Dual: Dual Electronics Corporation, a subsidiary of the Namsung Corporation, is based in Heathrow, FL. Dual offers a wide selection of car electronics under the Dual and Axxera brands, as well as Dual-branded marine electronics, portable aviation electronics, home audio loudspeakers and portable GPS products. For further information, visit www.dualav.com.




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