Audiovox (VOXX) Expands Satellite Footprint Through New Agreement with Sirius XM
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Audiovox Corporation (Nasdaq: VOXX) today announced that it has reached an agreement in principle with SIRIUS XM Satellite Radio (Nasdaq: SIRI), whereby the Company will become the principal supplier of SIRIUS satellite radio products to the North American aftermarket, providing products to the major U.S. retailers. The agreement is subject to the completion of a final distribution agreement under which Audiovox will provide warehousing, distribution, logistics and related services for SIRIUS XM with respect to both SIRIUS and XM products.
This new agreement is in addition to the existing Master License Agreement that Audiovox has for XM products, which was entered into by Audiovox and XM in 2005.
Audiovox Corporation, through its subsidiaries, distributes electronic products and accessories worldwide.
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