updated 09:15 pm EST, Fri January 7, 2011
Deal has yet to be finalized
Audiovox has made a preliminary move to acquire the Indianapolis-based speaker manufacturer Klipsch Group. The deal has yet to be finalized, as Audiovox has only signed a "non-binding term sheet" to purchase all Klipsch shares. The buyer must also negotiate and sign a definitive agreement and obtain the necessary approvals.
Audiovox initially established itself in the automotive stereo market, however the company has continued to expand its reach into a variety of additional markets. Other Audiovox acquisitions include brands such as Jensen, RCA and Acoustic Research.
If the deal is sealed, Klipsch will represent a high-end label among Audiovox's brand portfolio. Audiovox has yet to disclose specific details regarding its potential strategy for the brand, however.