Europe News: Audiovox acquires Incaar

Europe News:  Audiovox acquires Incaar

Audiovox German Holdings has acquired Incaar, a UK-based premium multimedia systems company, for approximately $402,000, plus a maximum earn-out payment of $400,000 provided certain earnings targets are met.

Incaar concentrates its marketing efforts on the OE segment where it develops and markets a diverse line of multimedia and mobile video systems and components for the European automotive industry.

Incaar products include HDD multimedia, Wi-Fi technology, GPS/GSM modules, DVD loaders/changers, as well as a complete line of electronic accessories to support these systems.

Incaar's products are Restriction of Hazardous Substances (RoHS) compliant and meet with all regional environmental directives.

“The acquisition of Incaar adds the OE component to our international mobile multimedia efforts,” said Audiovox president & CEO Patrick Lavelle. “While Incaar has a limited operating history, it has a strong brand presence in the OE marketplace, including programs with BMW and Toyota among others.”

With new programs underway and new products scheduled for introduction, Audiovox believes the acquisition will add approximately US$10-$13 million in sales revenue in the 2009 fiscal year.

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