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Phase Technology Gets Investor

7/30/2004 03:19:00 PM Eastern

Jacksonville, Fla. — Phase Technology, the privately held U.S. speaker maker, said it will accelerate its new product plans now that a major customer has invested in it.

The investor and now part-owner is MultiService Electronics of Overland Park, Kansas. Phase is an OEM supplier to MultiService, a marketer of custom-installed home and commercial audio products, mainly speakers, under the AES, SoundTube, Solid Drive and Induction Dynamics brands.

MultiService’s sister company, MultiService Inc., provides credit-card services to trucking companies, airlines and other industries in and outside the U.S.

The relationship will help accelerate new product introductions and help the company enter new audio categories, said Phase’s president Ken Hecht. MultiService also provides Phase with “a lot of back-end support,” including inventory control systems and Web site development, said Hecht.

Ken Hecht and his father, chairman and founder Bill Hecht, are the other owners. The size of MultiService’s ownership stake wasn’t revealed.