Kicker Inks Deal For SoundGate
By Amy Gilroy -- TWICE, 9/25/2006
STILLWATER, Okla. — Stillwater Designs, maker of Kicker car audio speakers, has acquired OEM integrator SoundGate of Sheridan, Wyo., for an undisclosed sum.
SoundGate founders Rob and Julie Putnam and several staff members will relocate to Stillwater headquarters here.
The purchase is expected to provide a means for Kicker products to integrate into the cars of the future, said a spokesman. It will also increase financing for SoundGate, said Stillwater VP sales and marketing Charlie Schultz. He said the two companies have had an ongoing relationship over many years.
The Consumer Electronics Association estimates the OEM integration market, including MP3/iPods kits, will grow by 90 percent this year to $29 million and by another 100 percent next year to $57 million.
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