Gentex to acquire VOXX International for $7.50/share; deal expected to close Q1 2025

GENTEX CORP

All-cash $7.50 per VOXX share; subject to shareholder and regulatory approvals, expected close Q1 2025.
Strategic addition: gains EyeLock iris biometric tech and Premium Audio Company (Klipsch, Onkyo, Integra).
Annual revenue expected to increase $350-400M; pro-forma EBITDA contribution $40-50M after integration.
Post-closing tax benefits of $15-20M from tax loss and credit carryforwards over 5-6 years.
Shalam family (controlling shareholders) entered voting agreement to support deal; $7.5M termination fee.

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