Audiovox, Universal Ink Remotes Deal
By John Laposky -- TWICE, 5/19/2008
HAUPPAUGE, N.Y. — Audiovox Accessories has agreed to a deal making Universal Electronics the exclusive supplier of microcontrollers and software for universal remote controls marketed under Audiovox's RCA brand.
In exchange, Audiovox gains the distribution rights for remotes sold in North America and select Latin American and Asian markets under Universal's One For All brand.
Additionally, Universal will in the future develop remote controls for both the RCA and Acoustic Research brands.
One For All remotes will continue to be sold and distributed internationally in regions not covered by the pact through Universal Electronics, BV, a wholly owned subsidiary of Universal.
Financial details of the transaction were not disclosed.
"Our new partnership with Universal Electronics affords us a great opportunity to take on a well-known brand such as One For All with strong potential for growth in the North American market," David Geise, president of Audiovox Accessories, said. "This agreement positions Audiovox to take advantage of the continuing growth in the home entertainment industry, allowing us access to a trusted partner in remote control innovation and technology. This will help us to aggressively expand our existing lineup through the Acoustic Research and RCA families."
"We're thrilled that both parties were able to complete an agreement of this magnitude as it should immediately benefit both companies enormously," said Paul Arling, chairman /CEO of Universal Electronics. "We fully expect Audiovox to propel the One For All brand through their market leadership in sales and distribution of retail remote controls and accessories."
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