Telex Communications Holdings has signed a merger agreement with a subsidiary of Robert Bosch GmbH. The latter will acquire Telex for $420 million, including the assumption of Telex debt.
Telex makes brands including Electro-Voice, Dynacord, Midas, Klark Teknik and RTS.
The companies stated that the surviving company's name will be Telex Communications Holdings Inc., with its headquarters remaining in Minneapolis. If the merger goes through, Telex will be assigned to the Bosch Security Systems division.
Telex makes pro audio and other communication equipment. It reported sales in fiscal 2005 of $308 million. It has about 2,000 employees at 14 locations in nine countries.
(Radio World)
