VOXXHirschmann Announces Strategic Partnership with Sling Media to Bring the 'Home Television Experience' Directly into the Vehicle
HAUPPAUGE, N.Y. and FOSTER CITY, Calif., Nov. 11, 2014 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), is pleased to announce that its wholly-owned subsidiary, VOXXHirschmann, has formed a strategic partnership with Sling Media, Inc., a wholly-owned subsidiary of EchoStar Corporation (NASDAQ: SATS). The partnership will allow VOXXHirschmann to integrate a customized vehicle specific version of the Slingplayer app into its OEM designed rear-seat entertainment and vehicle connectivity line of products. This integration will give Slingbox owners the ability to watch live or recorded programming from their home cable or satellite TV subscription directly in the vehicle.
Under the terms of the agreement, VOXXHirschmann will become the exclusive automotive supplier of the Slingbox/Slingplayer solution operating in any vehicle entertainment sub system on a worldwide basis. This exciting business partnership aims to provide consumers with their full, at home television experience in any motor vehicle. Access to live TV, on-demand services and DVR content from a consumer's set top box has to date been limited to desktop and portable devices. This partnership is the first of its kind for the automotive market and VOXX will leverage its innovative and proprietary entertainment product offerings to deliver a TV experience like never before.
The two companies will be working jointly to integrate the Slingbox technology including software and various applications into its new, Evolution Series (EVO) Rear Seat Infotainment family currently under development. The EVO system would contain the "connectivity smarts" of the entire system including the embedded Slingplayer app and will stream multiple types of media content wirelessly and/or wired to display monitors in the vehicle inclusive of BYOD. The EVO series with Slingbox integration will be available in all rear seat entertainment form factors including customized headrest systems, seat back mounted displays or overhead flip down monitors. Additionally, consumers will have the ability to access content from any portable device brought into the vehicle and then stream directly to the installed monitors through multiple wired or wireless connectivity options. The Company expects to have the new EVO product for OEMs, integrating Slingbox technology within a 12-18 month period.
Furthermore, the companies will also be working to integrate Slingbox technology into their embedded tuner modules or intelligent antenna systems, which when complete, will be integrated directly into the vehicle at the factory level as a Tier1 or Tier2 automotive OEM production offering.
Pat Lavelle, VOXX International's President and CEO stated, "We are very excited with this partnership as it represents another first-to-market for our company and holds significant potential for our Automotive OEM group. One of the most compelling factors behind our acquisition of Hirschmann was the development of new technologies within their mobile multimedia tuners and intelligent antennas combined with our advanced North American Rear Seat Infotainment systems. We are positioned to bring to market connected solutions for OEMs that will provide true competitive differentiation. This is yet another example of our leadership position in the OEM category and while revenues may be 1-2 years away, we are confident that the exclusive addition of Slingbox technology to our offering will help us grow our top-line and expand our business within the global OEM marketplace."
"Sling Media's Slingbox technology delivers the ultimate TV Anywhere experience on the most devices with no monthly fees and our partnership with VOXX further expands our reach, this time into the back seats of automobiles," said Michael Hawkey, senior vice president and general manager of Sling Media, Inc. "Integrating the Slingbox experience into the EVO Series Rear Seat Infotainment family will make watching live and recorded programming simple and enjoyable for customers, while providing more value for VOXX's automotive OEM partners at the same time."
VOXX International will be showcasing this solution at their booth at the 2015 International Consumer Electronics Show in Las Vegas, NV (January 6-9, 2015 – Central Hall – Booth #10417).
About Sling Media
Sling Media, a wholly-owned subsidiary of EchoStar Corporation, is a leading provider of Multiscreen Smart TV solutions for consumers and television service providers. Lead by its Slingbox product family, Sling Media provides the complete award-winning solution of hardware, cloud services and applications that gives consumers the freedom to discover, control and consume their live TV and DVR content anywhere in the world, on their preferred tablet, phone and computing platform. Sling Media's patented TV solutions are available directly to consumers or through service providers that have embedded Sling's capabilities. For more information, please visit slingbox.com.
About VOXX International Corporation
VOXX International Corporation (NASDAQ:VOXX), formerly Audiovox Corporation, was formed over 45 years ago and has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Through its wholly-owned subsidiaries, VOXX International proudly is recognized as the #1 premium loudspeaker company in the world, and has #1 market positions in automotive video entertainment and remote starts, digital TV tuners and digital antennas. The Company's brands also hold #1 market share for TV remote controls and reception products and leading market positions across a wide-spectrum of other consumer and automotive segments.
Today, VOXX International Corporation is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers. The Company has an international footprint in Europe, Asia, Mexico and South America, and a growing portfolio, which now comprises over 30 trusted brands. Among the key domestic brands are Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, CarLink®, 808®, AR for Her®, and Prestige®. International brands include Hirschmann Car Communication®, Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™. The Company continues to drive innovation throughout all of its subsidiaries, and maintains its commitment to exceeding the needs of the consumers it serves. For additional information, please visit our Web site at www.voxxintl.com.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive, premium audio and consumer accessories businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations and concerns regarding the European debt crisis; restrictive debt covenants; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against VOXX International Corporation and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2014.
Company Contacts:
VOXX
Glenn Wiener, President
GW Communications
Tel: 212-786-6011
Email: [email protected]
Sling Media, Inc.
Brian Jaquet
Tel: 415-235-4844
Email: [email protected]
SOURCE VOXX International Corporation
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