VOXX International Majority Share of Automotive Aftermarket Business of Directed for USD 11m.
MANews-(C)2009-2020
Florida, US-based VOXX International Corp. (NASDAQ: VOXX), a manufacturer and distributor of automotive and consumer technologies, has acquired the aftermarket vehicle remote start and security systems and connected car solutions businesses of Directed, LLC and Directed Electronics Canada Inc. via an asset purchase agreement, the company said.
VOXX DEI LLC, a newly formed 75%-owned subsidiary of VOXX and VOXX DEI Canada Ltd. are the Buyers.
The acquisition includes Directed's aftermarket remote start and security systems and connected car solutions businesses for a total cash purchase of USD 11m plus assumption of certain liabilities.
The Buyer, following a soon-to-be-completed agreement with Nutek Corp. in...
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