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.
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,
