On Wednesday, The Bosch Group announced that it had committed to purchasing Telex Communications Holdings, a technology products company manufacturing intercom, life safety, professional audio and wireless communications products. Telex not only produces its namesake brad, but also products sold under such names as ElectroVoice, Midas, Dynacord, Audiocom, Radiocom, Vega Signaling Products and more.
The purchase price was listed as $420 million, and has been approved by both Telex's board of directors as well as Bosch's management board. The acquisition will move the Telex companies into the folds of Bosch Security Systems, where technologies like the integrated public address/intercom offerings should fit well into Bosch's mix of products aimed at security and building automation. The acquisition brings some $300 million in annual sales, along with 2,000 employees and locations in nine countries to the Bosch family, however most of Telex's strength is in the United States.
"With the acquisition of Telex, Bosch Security Systems can significantly expand its communications systems product offerings and penetrate the professional audio equipment market," said Peter J. Marks, who handles Bosch's Americas sector as well as the Security Systems division for the company board of management. "The strength of the Telex distribution network will enhance our worldwide market position as a provider of comprehensive security and communication systems. At the same time, we obtain a leading position in the American market."
Telex Communications Holdings is online at www.telexcommunications.com.