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You are here: Home / Archives for Voxx International

Voxx International

VOXX Fiscal ’23 Q1 Results Decline; Blames Chip Shortage, Retailer Over-Inventory

July 12, 2022 by Ted 1 Comment

Screenshot of VOXX website

VOXX International Corp. announced its fiscal 2023, first-quarter results late Monday, reporting that it saw sales declines, deepening operating losses, and a swing to a net loss in the quarter. Shares in VOXX declined 9.44% in value in trading Monday – and after-hours trading in the early evening pointed to another nearly 3% decline in shares. By comparison, the S & P 500 saw overall shares decline 1.15% on Monday.

Learn all about the VOXX FY2023/Q1 results

[Read more…] about VOXX Fiscal ’23 Q1 Results Decline; Blames Chip Shortage, Retailer Over-Inventory

Filed Under: Brands, Financial, Manufacturers, News Tagged With: 11 Trading Company, Pat Lavelle, Premium Audio Company, Voxx International

Osaka District Court Approves Onkyo Bankruptcy Petition for Two Subsidiaries

April 20, 2022 by Ted 4 Comments

Onkyo Home Entertainment Co. Ltd. (Onkyo) has announced that its two consolidated subsidiaries – Onkyo Sound Co. Ltd. (ONS) and Onkyo Marketing Co. Ltd (OMC) – have filed for bankruptcy. The company said that it had petitioned the court to begin bankruptcy proceedings for these divisions and has received judicial approval to begin the bankruptcy process from the Osaka District Court in Osaka, Japan.

See more on the bankruptcy of these Onkyo subsidiaries

[Read more…] about Osaka District Court Approves Onkyo Bankruptcy Petition for Two Subsidiaries

Filed Under: Asian Connection, Financial, Management, Manufacturers, News, Strategy Tagged With: 11 Trading Company, bankruptcy, Klipsch, Onkyo, Premium Audio Company, Sharp, Voxx International

Voxx Announces Final Deal to Acquire Onkyo, with a Twist

June 29, 2021 by Ted 1 Comment

onkyo portable record player

Voxx International has announced that they have finalized their agreement to partner with Sharp Corporation to acquire the Home Entertainment Division of Onkyo – news that Strata-gee readers knew about last week. The news comes as a result of Onkyo shareholders voting last Friday to approve the sale of the company to Voxx’s subsidiary known as the Premium Audio Company. Not much was new here on the Onkyo front, as we already told you about the deal only covering the Onkyo and Integra brands. However, we did learn some more interesting details on the company’s attempts relative to the Pioneer and Pioneer Elite brands.

See what’s happening with Voxx, Onkyo & Pioneer

[Read more…] about Voxx Announces Final Deal to Acquire Onkyo, with a Twist

Filed Under: Asian Connection, Brands, Distributors, Management, Manufacturers, News, Strategy Tagged With: 11 Trading Company, Integra, Klipsch, Onkyo, Pioneer, Pioneer Elite, Premium Audio Company, Voxx International

End of an Era: Onkyo Shareholders Vote to Sell Off Home Entertainment Division

June 25, 2021 by Ted Leave a Comment

Photo of Onkyo Atmos models at CE Week
Onkyo Atmos-ready AV models at a past CE Week [Click to enlarge]

BREAKING NEWS

In a rather terse announcement to investors posted today, Onkyo Home Entertainment Company, Ltd. announced that, by a majority vote of company shareholders, the sale of the company’s Home Entertainment Division to Voxx International has been approved. This vote of approval was widely anticipated and represents the last formality in the transfer of the company over to Voxx. This is the first time since 1945 that Onkyo’s parent company is no longer involved in the home entertainment business.

See more on this end of an Onkyo era

[Read more…] about End of an Era: Onkyo Shareholders Vote to Sell Off Home Entertainment Division

Filed Under: Asian Connection, Brands, Financial, Management, Manufacturers, News Tagged With: 11 Trading Company, acquisition, Klipsch, Onkyo, Onkyo Corp., Onkyo Corporation, Onkyo U.S.A. Corporation, Premium Audio Company, Voxx International

VOXX Finally Speaks: We Have an Agreement to Purchase Only Onkyo

June 3, 2021 by Ted 1 Comment

onkyo logo

Well after much coverage on the VOXX/Onkyo deal by Strata-gee, in which VOXX remained strangely silent, the company finally issued a press release today in which they acknowledged that they had signed an asset purchase agreement (APA) with Onkyo for $30.8 million. The deal remains subject to approval by Onkyo shareholders in a vote scheduled to take place on June 25, 2021.

This news was likely not a surprise to Strata-gee readers. But what was a surprise is that this purchase does NOT include the Pioneer and Pioneer Elite brands.

See more on the latest news out of VOXX about Onkyo

[Read more…] about VOXX Finally Speaks: We Have an Agreement to Purchase Only Onkyo

Filed Under: Asian Connection, Financial, Management, Manufacturers, News, Strategy Tagged With: 11 Trading Company, acquisition, Klipsch, Onkyo, Onkyo Home Entertainment Corp, Pioneer, Pioneer Elite, Premium Audio Company, Voxx International

Onkyo Directors Vote to Authorize the Sale of the Company in $30.3M Deal

May 28, 2021 by Ted 9 Comments

On Wednesday, at a specially convened meeting of the Board of Directors for Onkyo Home Entertainment Co. Ltd. (Onkyo), company directors formally voted to authorize the transfer of Onkyo’s home AV division to the partnership of VOXX, Intl. and Sharp Corporation, in a deal valued at $30.3 million. The transaction is pending shareholder approval. This development represents real progress on a deal that had appeared to be bogged down recently.

See more on this deal as it gets back on track

[Read more…] about Onkyo Directors Vote to Authorize the Sale of the Company in $30.3M Deal

Filed Under: Asian Connection, Financial, Management, News, Strategy Tagged With: 11 Trading Company, acquisition, Integra, Klipsch, Onkyo, Pioneer, Pioneer Elite, Premium Audio Company, Voxx International

Oh-Oh: Deadline for Onkyo & VOXX Agreement Passes with No Deal

May 20, 2021 by Ted 1 Comment

Onkyo web page
From Onkyo’s website…

BREAKING NEWS

Oh-oh! I thought today I would be confirming that the VOXX/Sharp/Onkyo definitive agreement – which was supposed to be concluded today, May 20, 2021 – was in fact fully executed as directed in the original tentative agreement. But instead, I have learned that the definitive agreement for this sale was NOT in fact signed today, as dictated in the preliminary agreement. Now what?

Is There Trouble in Osaka for Onkyo?

[Read more…] about Oh-Oh: Deadline for Onkyo & VOXX Agreement Passes with No Deal

Filed Under: Financial, News, Strategy Tagged With: acquisition, Onkyo, Onkyo Corp., Onkyo Corporation, Sharp, Sharp Corp., Voxx, Voxx International

Trying to Avert Disaster, Onkyo Signs Preliminary Deal to Sell to Voxx/Sharp

May 4, 2021 by Ted 1 Comment

Onkyo system on display in Japan
Onkyo system on display in Japan
[PHOTO: The Nikkei]

I can’t say this news from Onkyo Home Entertainment comes as much of a surprise. And based on conversations I’ve had with many of you over the last week or so, my reference a couple of weeks back to the growing romance between Onkyo and Voxx was clearly a wink-nod signal that I saw this coming. Onkyo has signed a preliminary agreement to sell their largest, but not their only, remaining division – the home audio/video division – to a partnership consisting of Sharp Corp. and Voxx Intl. The deal includes the Onkyo, Integra, Pioneer, and Pioneer Elite brands.

But after the abject failure of three previous attempts to sell the troubled company, will this deal actually close? See my thoughts…

Will deal between Onkyo and VOXX/Sharp close?

[Read more…] about Trying to Avert Disaster, Onkyo Signs Preliminary Deal to Sell to Voxx/Sharp

Filed Under: Asian Connection, Brands, Financial, Management, Manufacturers, News, Strategy Tagged With: acquisition, Onkyo, Onkyo Home Entertainment, Sharp, Sharp Corp., Voxx, Voxx International

Budding Onkyo & Voxx Romance Grows, Adds Teac & Esoteric to 11 Trading Company

April 15, 2021 by Ted Leave a Comment

photo of teac component once part of Onkyo now to be distributed by 11 Trading Company

This week we learned that 11 Trading Company…part of Premium Audio Company…which itself is part of Voxx International (love those big corporate structures), has added the only remaining Onkyo brands – Teac & Esoteric – to their distribution line list. They did not include these brands in the original announcement of their agreement with Onkyo, but most people expected it to be added in time. With this new development we get a nice progression of the budding relationship between the companies – Voxx distributing Onkyo, Integra, Pioneer, Pioneer Elite, Teac & Esoteric – while Onkyo Corp. becomes the Klipsch distributor in Japan. Where could this be heading?

See more on Onkyo & Voxx/11 Trading Company partnership…

[Read more…] about Budding Onkyo & Voxx Romance Grows, Adds Teac & Esoteric to 11 Trading Company

Filed Under: Asian Connection, Brands, Distributors, News, Pivot Point, Strategy Tagged With: 11 Trading Company, Esoteric, Integra, Joe Petrillo, Keith Haas, Klipsch, Onkyo, Pioneer, Pioneer Elite, Premium Audio Company, Rob Standley, Teac, Voxx International

VOXX Int’l Reveals It’s Been Hit By a Ransomware Attack

September 30, 2020 by Ted Leave a Comment

Warns that Sensitive Employee & Contractor Info Compromised

VOXX International Corporation (NASDAQ:VOXX) revealed this week that they were the victim of a ransomware attack in July and that an assessment of the hack completed early this month shows that sensitive and confidential employee and contractor information has been compromised. The company has issued a warning to all employees and contractors who have worked for the company over the last 20-years.

See more on this surprising VOXX ransomware attack…

[Read more…] about VOXX Int’l Reveals It’s Been Hit By a Ransomware Attack

Filed Under: Brands, Crime, Law, Management, Manufacturers, News Tagged With: Klipsch, ransomware, Voxx International

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A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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