Gentex Corporation has entered into a definitive agreement to acquire all of the issued and outstanding shares of VOXX common stock not already owned by Gentex for US$7.50 per share, representing an aggregate enterprise value of approximately US$196 million. Gentex had already purchased a large stake in Voxx back in 2023.

Ari Shalam, Chairman of the board of directors of VOXX, said:

The transaction with Gentex ensures a seamless transition for our brands, employees, customers and partners. After a thorough and exhaustive sales process, the disinterested members of the board, the transaction committee and I unanimously support this decision, believing that it represents the best and most reliable path forward to maximize value for all VOXX stockholders. My father, John Shalam, who founded VOXX 60 years ago, and I are incredibly proud of the legacy we have built and the remarkable accomplishments of the VOXX team. We are confident that under Gentex's stewardship, VOXX's legacy will continue to thrive for the benefit of our stakeholders.

So, who is Gentex? According to its website, the company was founded in 1974 and is a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies.  

And why are they interested in Voxx? The press release goes on to state:

The acquisition of VOXX is a strategic addition to the Gentex portfolio of products. The majority of the revenue of VOXX is comprised of automotive OEM and aftermarket business, as well as the consumer electronics industry. Through the transaction, Gentex will gain full access to the EyeLock® iris biometric technology, which represents a unique, extremely accurate and highly secure method of authentication, which will provide further product applications into the Gentex automotive, aerospace and medical markets.

Consumer electronics products, specifically Klipsch, Onkyo, and Integra, have not been forgotten. The press release references the following:

Gentex believes its expertise in high volume manufacturing will help the Premium Audio team to continue its expansion in the consumer technology and connected home space, through newly launched Gentex products, such as Place™, and HomeLink Smart Home Solutions™. Additionally, the Gentex sales and business development teams will further equip the Premium Audio team with additional automaker exposure to build on the early success of several OEM launches of Klipsch® Reference Premiere audio systems.

At an Onkyo press conference where the company's new brand identity was also unveiled, we were told:

Looking ahead to 2025, Onkyo will expand its offerings beyond audio/video receivers with the launch of active speakers and new amplifiers. This expansion aims to meet the needs of audiophiles seeking exceptional sound quality and everyday users craving immersive audio experiences. Onkyo will unveil these new products at CES 2025 in Las Vegas.

Gentex's acquisition of consumer audio brands is more synergistic than Masimo's acquisition of Sound United. From the audio industry's perspective, this has genuinely benefited the newly stabled 'Masimo Consumer' brands of B&W, Denon, Marantz, Polk, and Definitive Technology. So it would be fair to assume, and hope, that the new management and resources will genuinely benefit Klipsch, Onkyo and Integra. Only time will tell.