Vox International whose management was labelled “unethical” by their previous distributor in Australia has been flogged to a US company that manufactures automatic-dimming rear-view mirrors, camera-based driver assistance systems, and other equipment for the global automotive industry.

The sale happened after several failures imitated by the Vox management team, who have struggled to recover from questionable business decisions.

The audio and automotive entertainment Company was sold for US $196M included in the price is the failed Premium Products group along with the Klipsch, Onkyo,

Acoustic Research and the failed Pioneer brand.

Desperate for capital the Company started selling assets to try to inject capital into the business.

Among the assts sold was the Jamo brand.

Gentex will 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 $196 million.

Premium Audio Products was supposed to be the b all of audio Companies in Australia, after dumping Qualifi as their distributor in Australia, management set up Premium Audio Products Company after hiring former Qualifi executives Peter Shamoon who is now involved with a ‘Church Group” and Phil Hawkins a former Yamaha executive.

They lasted only a short time in the business.

After several failures it was back to a distribution model for the specialist channel with the appointment of Melbourne based Westan.

Back in August 2024 when management realised, they were in serious trouble according to analysts the US Companies Board of Directors started looking for capital or a total sale of the business.

What unfolded was Gentex who back then made an unsolicited proposal to acquire VOXX at $5.50 per share.

After several months of a robust sales process led by a transaction committee of directors unaffiliated with Gentex, working with the committee’s independent financial advisor, Solomon Partners, and meeting with an extensive field of prospective purchasers, both strategic and financial, a transaction was finally approved.

Ari Shalam, Chairman of the board of directors of VOXX, stated “the transaction with Gentex ensures a seamless transition for our brands, employees, customers and partners”.

New Onkyo branding 2024.

He added ” 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”.

About Gentex

Founded in 1974, Gentex Corporation is a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies.  For additional information, visit Gentex’s web site at www.gentex.com.