GN Audio (Jabra) Acquires VXi and BlueParrott

October 13 2016, 06:15
GN Audio – the owner of Jabra – announced that it has acquired VXi Corp., the headset manufacturer of both the VXi and BlueParrott brands. Jabra is a brand of the global GN Group and market leader in its segment of audio solutions. The GN Group is made up of GN Hearing with the flagship hearing aid brand ReSound and GN Audio with the flagship brand Jabra, and now also includes the VXi and BlueParrott brands.

VXi is a leading innovative US based manufacturer of professional headset solutions. The company was founded in 1989 and has consistently shown a strong track record. Since 2005, VXi has grown its revenue at double digit rates and at the same time delivered strong double digit EBITDA margins. In 2015, VXi generated reported revenue of USD 32 million and an EBITDA of USD 4 million.

The acquisition of VXi will further strengthen GN Audio's presence and market share in the important North American market as well as enable access to new and attractive segments. It also gives GN Audio the opportunity to leverage VXi’s best-in-class expertise within “high noise” communication environments. The purchase price is USD 35 million on a debt and cash free basis.

“We are delighted to have reached an agreement with VXi. The acquisition further strengthens our position on the North American market, where we have shown strong progress in recent years. We will build on VXi’s strong presence and reputation in the US and combine it with the international reach and professionalism of GN Audio and the Jabra team,” says Paul Hamnett, President for GN Audio in North America.

“The combination of cutting-edge headsets and industry-leading medical smart hearing aid technology makes the GN Group unique in the industry. This unique mix enables the GN Group to be the only company that can transform deep insight from both the hearing aid and the headset customers into world-leading expertise in the human auditory system, sound processing, and wireless technologies,” the company states.

Founded in 1869, the GN Group today has more than 5,000 employees and its parent company, GN Store Nord, is listed on Nasdaq Copenhagen (GN.CO). The GN Group is present in the integrated headset and communications market with Jabra, but the brand has been recently expanding its market into consumer lifestyle products with wireless headsets and earbuds. By owning ReSound, one of the global leading brands in medical grade hearing aids, the group is in a strong position to leverage its expertise in the human ear, sound, wireless technology and miniaturization. |
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