Directed Electronics Acquires Trilogix Electronic Systems
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1 Viper Way
Vista, CA, 92081
Press release date: May 22, 2007
VISTA, Calif., May 22: Directed Electronics, Inc., (NASDAQ:DEIX) announced today that it has acquired Trilogix Electronic Systems Inc. and its affiliates. Trilogix is a leader in vehicle integration solutions simplifying the installation of aftermarket remote start systems by providing innovative, software-based technology products. Terms of the deal were not disclosed.
According to Kevin Duffy, Senior Vice President of Corporate Development and Marketing for Directed, "We expect this strategic, tuck-in acquisition to complement our leadership in the aftermarket vehicle security and remote start market by providing customers of both companies with the widest assortment of integration solutions in the industry. Given the increasingly high attachment rate of integration modules to remote start sales, we believe the combination of Directed's broad distribution network and Trilogix's leading edge products and technology provides a significant long-term opportunity."
Trilogix founder and President, Derek Schumann, and his management team will remain in place, managing day-to-day Trilogix operations, and leading the overall Directed effort in the bypass and integration category. "We are very pleased to become part of the worldwide Directed Electronics organization and look forward to expanding Directed's vehicle integration solutions," Schumann said. "In addition, we look forward to continuing our relationships with our existing customer base."
Trilogix's operations are located in Canada, where Directed recently acquired three entities (Astroflex, Autostart and Directed Canada) that are all engaged in the vehicle security and remote start business.
According to Mark Rutledge, Senior Vice President of Engineering and Product Development for Directed, "Our two companies have a close cultural fit, and Derek Schumann is an energetic entrepreneur with a great deal of passion for vehicle integration products. I am excited about the opportunity to work with Derek and the Trilogix team to develop the next generation of vehicle interface technologies."
Directed expects the acquisition to be neutral to earnings in 2007 and slightly accretive in 2008.
About Directed Electronics
headquartered in Vista, California, Directed Electronics (NASDAQ:DEIX) is the largest designer and marketer in North America of premium home theater loudspeakers, consumer branded vehicle security, vehicle remote start and convenience systems, and the largest supplier of aftermarket satellite radio receivers based on sales. Directed is also a major supplier of mobile audio and video systems and has exclusive rights to market and sell certain SIRIUS-branded satellite radio receivers and accessories to Directed's existing U.S. retailer customer base. In the home audio market, Directed designs and markets award-winning Polk Audio(R) and Definitive Technology(R) premium loudspeakers. Directed's broad portfolio of security products, remote start, hybrid systems, and GPS tracking systems are sold under leading brands including Viper(R), Clifford(R), Python(R), Astroflex(R) and Autostart(R). Directed's mobile audio and video products include speakers, subwoofers, amplifiers, video screens and digital media players, sold under its Polk Audio(R), Orion(R), Precision Power(R), Directed Audio(R), Xtreme(R) Directed Video(R), and Directed Mobile Media(R) brand names. Directed was founded in 1982 and markets its broad portfolio of products through many channels including leading retailers and specialty chains throughout North America and around the world. More information is available at http://www.directed.com/.
Source: Directed Electronics, Inc.
CONTACT: Ron Dutt, Executive Vice President and Chief Financial Officer f Directed Electronics, Inc., +1-760-598-6200; John Mills or Anne Rakunas, both of Integrated Corporate Relations, +1-310-954-1100, for Directed Electronics, Inc. Web site: http://www.directed.com/