VOXX International completes Hirschmann Car Communication acquisition

VOXX International Corporation has completed its acquisition of Car Communication Holding GmbH and its worldwide subsidiaries (Hirschmann) for a total purchase price of approximately US$112 million, plus related transaction fees, expenses and working capital adjustments. In 2011, Hirschmann sales were approximately US$199 million, representing a 16% increase over the prior year. Management believes, based on the company's existing pipeline of booked business through 2016 and anticipated global market oppor
March 22, 2012 Read time: 1 min
VOXX International Corporation has completed its acquisition of Car Communication Holding GmbH and its worldwide subsidiaries (Hirschmann) for a total purchase price of approximately US$112 million, plus related transaction fees, expenses and working capital adjustments.

In 2011, Hirschmann sales were approximately US$199 million, representing a 16% increase over the prior year.  Management believes, based on the company's existing pipeline of booked business through 2016 and anticipated global market opportunities that Hirschmann sales will continue to increase in the coming year.
"This is another major milestone for our company, as the addition of Hirschmann strengthens our global footprint and our OEM automotive offering,” said Patrick Lavelle, president and CEO of VOXX International.

Hirschmann, headquartered in Neckartenzlingen, Germany, is a recognised tier-1 supplier of communications and infotainment solutions, primarily to the automotive industry, and counts among its global customers, 2125 Audi, 1731 BMW, 1941 DAF Trucks, 2069 Daimler, PSA, 2453 Renault, and 994 Volkswagen Group, among others.
Location Based Systems

Related Content

  • January 7, 2015
    Investments in autonomous driving are accelerating, says report
    Google and various automakers have increased their activity and investments toward the goal of self-driving vehicles, while Google has shifted from its previous strategy to now focus on fully driverless vehicles for the future. If successful, it will have significant implications for the auto industry, according to IHS Automotive, based on findings in its new report, Autonomous Driving: Question is When, Not If, which is an update to a previous report issued early in 2014. OEMs remain geared toward aug
    Read More
  • April 20, 2017
    WiLAN to acquire International Road Dynamics
    Canadian patent licensing company WiLAN is to acquire intelligent transportation systems (ITS) supplier International Road Dynamics for an equity value of approximately US $47.4 million (CA$63.5 million). The acquisition is part of WiLAN’s growth strategy which will see it operate under the Quarterhill name from around the beginning of June 2017.
    Read More
  • January 7, 2016
    Qualcomm expands investment in automotive technology
    Qualcomm subsidiary, Qualcomm Technologies, has expanded its automotive technology portfolio to provide a collection of industry-leading technologies enabling timely innovation across all tiers of the automotive industry through highly integrated solutions in the areas of telematics and connectivity, as well as high definition graphics and multimedia for rich infotainment systems, machine intelligence and sensor fusion for advanced driver assistance systems (ADAS), GNSS location technologies, V2X (vehicle t
    Read More
  • June 13, 2012
    Jenoptik subsidiary announced in Brazil
    Jenoptik is strengthening its activities in the South American market with the formation of Jenoptik do Brasil which will be located in São Paulo. The Industrial metrology division is expanding its service offering as a first step and positioning itself more closely to its South American customers in the automotive and automotive supplier industry. ”By opening up another key region we are consistently pursuing our approach of being close to the customer through having our own local presence,” said Jenoptik
    Read More

Highlighted Content