In a near repeat of a transaction that made headlines just one year ago, Beltronics has agreed to be acquired by a competing radar detector maker, only this time the buyer is Ohio-based Escort.

At CES last year Cobra Electronics announced it had a tentative deal to purchase Beltronics, but the companies didn't reach a final accord, and talks were terminated.

Both Escort, which was formed in 1997 to acquire the assets of Cincinnati Microwave's detector business, and Beltronics are privately held. The terms of their agreement were not disclosed.

As was the plan with the Cobra deal, Escort says it intends to keep Beltronics' engineering, manufacturing and marketing operations independent and in place, though the two will share technology. Escort plans to install former Beltronics executive Ben Young as Beltronics' chief operating officer and manager of that company's operation in Mississauga, Ontario. Escort president Greg Blair will coordinate the activities of the two companies.

Each of the prospective merger partners has about $25 million in annual sales. In addition, Escort chairman Matt Coleman owns two other companies: ClearLink (Fuzzbuster radar detectors and FRS transceivers, and other products sold under the ClearLink and Connect brands) and Audio Products Inc.

Release Date: 
1970-01-01 00:00:00
Workflow: 
online
Abstract Web: 
In a near repeat of a transaction that made headlines just one year ago, Beltronics has agreed to be acquired by a competing radar detector maker, only this time the buyer...
Article Type: 
News
nstein articleid: 
262908
createdBy: 
13482