VOXX International Corporation Sold to Gentex Corporation: A Game-Changer in the Automotive and Consumer Technologies Industry
Orlando, Florida – April 1, 2025 – In a move that is expected to reshape the automotive and consumer technologies sector, VOXX International Corporation (VOXX) has announced the successful completion of the sale of the company to Gentex Corporation. The deal, which was first disclosed in late February, has been approved by both companies’ boards of directors and regulatory authorities.
Key Aspects of the Transaction
Under the terms of the agreement, Gentex will pay approximately $350 million in cash to acquire VOXX. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions. Once the deal is finalized, VOXX will become a wholly-owned subsidiary of Gentex.
Impact on VOXX Shareholders
VOXX shareholders will receive $13.00 in cash for each share of common stock they hold. This represents a premium of approximately 45% based on the closing price of VOXX stock on February 26, 2025, the last trading day before the deal was announced.
Impact on the Industry
The acquisition of VOXX by Gentex is a strategic move that will significantly expand Gentex’s offerings in the automotive and consumer technologies market. VOXX is a leading manufacturer and distributor of automotive and consumer technologies for the global markets, and the acquisition will give Gentex a broader product portfolio and a larger customer base. Additionally, VOXX’s strategic joint venture in biometrics will provide Gentex with a foothold in this growing market.
What This Means for Consumers
The acquisition of VOXX by Gentex is expected to lead to several benefits for consumers. First, it will result in a more comprehensive range of automotive and consumer technologies products being offered by Gentex. Second, the combination of VOXX’s expertise in biometrics and Gentex’s strength in automotive technologies could lead to the development of innovative new products that integrate biometric authentication and other advanced features into vehicles and consumer electronics.
- Expanded product offerings from Gentex
- Potential for new and innovative products
Global Implications
The acquisition of VOXX by Gentex is not just significant for the United States market, but also has global implications. VOXX has a strong presence in global markets, with operations in Europe, Asia, and South America. The acquisition will give Gentex a larger global footprint and a broader customer base, enabling the company to better serve customers in these markets and expand its reach.
Conclusion
The acquisition of VOXX by Gentex is a game-changer in the automotive and consumer technologies industry. It will result in expanded offerings from Gentex, potential new and innovative products, and a larger global footprint. For VOXX shareholders, the deal represents a significant premium, while for consumers, it could lead to new and innovative products. As the industry continues to evolve, this acquisition is a clear indication of the growing importance of advanced technologies in both the automotive and consumer electronics sectors.
About VOXX International Corporation: VOXX International Corporation (NASDAQ: VOXX) is a leading manufacturer and distributor of automotive and consumer technologies for the global markets. The Company’s expertise in technology, intellectual property, and design allows it to provide innovative and high-quality products to leading OEMs and consumer electronics retailers.
About Gentex Corporation: Gentex Corporation (NASDAQ: GNTX) is a leading supplier of automated dimensional vision systems and electronic mirrors for the automotive industry, as well as consumer electronics and industrial automation products. The Company’s products are designed to enhance vehicle safety and improve the driving experience.
