VOXX International Corporation (VOXX), a manufacturer and distributor of automotive and consumer technologies for the global markets, as well as biometrics through a strategic joint venture, has announced the successful closing on the sale of the company to Gentex Corporation.
On December 18, 2024, the companies announced that they had entered into a definitive agreement and plan of merger for Gentex to acquire VOXX in an all-cash transaction at a purchase price of $7.50 per share.
On March 31, 2025, VOXX held a special meeting of its stockholders to approve the merger agreement and related matters and VOXX stockholders voted in favor of the transaction.
With regulatory and stockholder approval obtained and all closing conditions met, on April 1, 2025, Gentex completed its acquisition.
Ari Shalam, Chairman of the Board of VOXX International stated: “First and foremost, to all VOXX employees, both past and present, I, the Board and the management owe you a debt of gratitude. Your dedication, passion and tireless spirit have carried us through every challenge and triumph for more than 60 years.
“To our customers and partners, and all those we’ve worked with throughout the years, thank you for your trust in us. We have accomplished great things together and I personally, am grateful for the relationships and memories.
“VOXX now embarks on a new era as the acquisition of VOXX by Gentex isn’t just a transaction, it’s a transformation. It’s a new beginning that opens doors to an even brighter future as Gentex brings a legacy of innovation, a commitment to quality and a vision for growth.
“We all believe the VOXX business and its legacy is in great hands under the stewardship of Steve Downing and the entire Gentex family.”
Gentex President and CEO Steve Downing shared: “We want to continue the legacy of VOXX Founder John Shalam. He was a pioneer who united the automotive and consumer electronics industries and Gentex is perfectly positioned to expand upon his vision.”
Gentex Chief Operations Officer and Chief Technology Officer Neil Boehm shared: “VOXX brings products, capabilities, and market expertise that complements our existing business lines, even beyond automotive.
“For instance, we’re particularly excited about utilizing VOXX’s expertise in consumer product distribution, retail sales, and mass merchandising as we continue to expand our smart home product portfolio under our PLACE and HomeLink brands.
“VOXX’s current business is comprised of products for the automotive OEM and aftermarket, as well as the consumer electronics industry.
“The acquisition also includes EyeLock, an iris biometric technology and the Premium Audio Company, which provides premium audio solutions through world-renowned brands such as Klipsch, Onkyo and Integra.
“We also believe there will be opportunities to apply our expertise in engineering and high-volume electronics manufacturing to various VOXX product lines, utilizing their existing automotive and consumer distribution capabilities, to maximize profitability and strengthen their business units.”
VOXX has announced the successful closing on the sale of the company to Gentex Corporation, with the merger being completed on April 1, 2025.
