Audiovox to Buy Thomson Music/Video Business, Including RCA Brand; Includes MP3 players
By Rafat Ali - Wed 17 Oct 2007 09:08 AM PST
Consumer electronics firm Audiovox is buying French electronics maker Thomson’s non-European audio video business for $19.7 million. The sale includes the once-storied RCA brand, and includes DVD and MP3 players, under brands including RCA. The deal covers Thomson’s U.S., Canada, China and Hong Kong audio video unit. Audiovox will also acquire rights to the RCA brand for consumer electronics audio video products, reports AP.
Thomson (NYSE: TOC) also plans to close its European AV and accessories business..the company is shifting its focus to providing services and tech to the media and entertainment industries. More in release.
Posted in: Countries, UK & Europe, France, Entertainment, Music, Gadgets, VC+M&A
