ORLANDO, Fla. and TEMPE, Ariz., January 17, 2019 – VOXX Electronics Corporation, a wholly-owned subsidiary of VOXX International Corporation (NASDAQ: VOXX), and Rockford Corporation (www.rockfordcorp.com), the industry leader in high-performance audio solutions, announced today they have reached a definitive agreement for VOXX Electronics Corporation to purchase all Crimestopper assets from Rockford. The sale is expected to close later this month.
“Crimestopper is a highly respected brand with a solid reputation and a loyal dealer network,” said Bill Jackson, CEO and President of Rockford Corporation. “We are pleased that VOXX, a leader in our industry, will carry on the 30-year legacy of Crimestopper.”
Aron Demers, Senior Vice President of VOXX Electronics Corporation added, “Rockford has been a great steward of the Crimestopper brand since they were acquired by Founders Howard and Sharon Miller four years ago. Under Rockford’s direction, Crimestopper has done a remarkable job of expanding the Advanced Driver Assistance Systems (ADAS) and Security categories. VOXX Electronics looks forward to continuing the legacy and we are excited to add Crimestopper to our Omega Research & Development Technologies (Omega R&D) portfolio of vehicle security and ADAS products.”
Effective January 16, 2019, Omega R&D will assume responsibility for sales, service and support operations for all Crimestopper dealers. Customers who have purchased Crimestopper products will also be serviced by Omega R&D.
In the coming weeks, Rockford and Omega R&D will engage with dealers to provide additional details about the Crimestopper transition. For immediate information, please contact Omega at Javier@caralarm.comor (305) 219-9110.
For more information on Rockford Corporation, please visit www.rockfordcorp.com. For more information on VOXX Electronics, please visit www.voxxelectronics.com. For more information on Omega R&D, please visit www.caralarm.com and www.omegadealer.com.
About Rockford Corporation:
Setting the standard for excellence in the audio industry, the Rockford Corporation markets and distributes high-performance audio systems for the mobile, motorsport, and marine audio aftermarket and OEM market. Headquartered in Tempe, Ariz., Rockford Corporation is a publicly traded company and manufactures or distributes its products under multiplebrands: Rockford Fosgate®, Rockford Acoustic Design™, and Renegade. For more information, please visit: www.rockfordfosgate.com, www.rockfordacousticdesign.com, and www.renegadecaraudio.com.
About VOXX Electronics Corporation (VEC):
VOXX Electronics Corporation (VEC) is a wholly-owned subsidiary of VOXX International Corporation (NASDAQ: VOXX), a global supplier of mobile and consumer electronics products. VEC is a recognized leader in the marketing of automotive entertainment, vehicle security and tracking, remote start systems, telematics, and Advanced Driver Assistance Systems (ADAS).
VEC sells its products through an extensive distribution network that includes expeditors, mass merchandisers, regional mobile electronics chains and independent specialists both domestic and internationally. VOXX Electronics possesses a strong brand portfolio and its products rank among the top ten in almost every category in which they sell. Primary brands include: Advent, Audiovox, CarLink, Code Alarm, Invision, Omega, Prestige, and Pursuit.
For additional information, please visit our website at www.voxxelectronics.com.
About OMEGA R&D:
Omega Research & Development Technologies hasbeen an innovative leader in the vehicle security industry for over 40 years. Since its founding in 1971, Omega's product line has diversified to include remote start modules and other vehicle accessory products. Omega's most recent product offerings include the exciting new technologies of telematics, wireless and databus integration.
Omega's mission, as it was over four decades ago, is to provide reliable, leading-edge security and automotive accessory products at a competitive price.
About VOXX International Corporation:
VOXX International Corporation (NASDAQ: VOXX) has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Today, VOXX International Corporation has an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers. The Company has an international footprint in Europe, Asia and Latin America, and a growing portfolio, which now comprises over 30 trusted brands. Among the key domestic brands are Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, Car Connection®, 808®, AR for Her®, and Prestige®. International brands include Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™.
For additional information, please visit our website at www.voxxintl.com.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive, premium audio and consumer accessories businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations and concerns regarding the European debt crisis; restrictive debt covenants; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against VOXX International Corporation and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2018.