(August 7, 2023) Today, Switzerland's Garmin Ltd. announced an agreement to acquire JL Audio, a U.S.-based company that designs and manufactures premium audio products and accessories, including speakers, amplifiers, subwoofers, and other audio components, for multiple market segments.
"JL Audio's extensive audio experience will create new opportunities to provide premium audio features across a broad range of our markets and products," explains Cliff Pemble, Garmin President and CEO. "The JL Audio brand is known around the world for offering a premium audio experience which is made possible by their talented and dedicated associates. We look forward to welcoming the JL Audio team into the Garmin family."
Headquartered in Miramar, Fla., JL Audio currently carries over 600 employees. According to Garmin, the acquisition is expected to be completed by the end of 2023 and is subject to customary regulatory approvals and closing conditions – in other words, there's a small chance the sale could be terminated. All existing JL Audio products will continue to be supported post-closing, and customers can expect to continue receiving the same great customer service.
As of now, the financial terms of the acquisition have not been disclosed.
Engineered on the inside for life on the outside, Garmin says its products have revolutionized the aviation, automotive, fitness, marine, and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin says it believes that "every day is an opportunity to innovate and a chance to beat yesterday."
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