Emerson Radio And ADCOM Form Joint Venture
February 25, 2008 at 6:12 AM (PT)
EMERSON RADIO CORP. and ADCOM, LLC have closed on a previously disclosed agreement in principle to form a joint venture, named ADVANCED SOUND AND IMAGE, LLC, or ASI, for the primary purpose of manufacturing, selling, distributing and/or licensing audio and video equipment for the home and office.
"We believe the joint venture will result in increased creativity and innovation across our entire audio category as it matches the distinct and separate strengths of EMERSON RADIO and ADCOM," said EMERSON Pres./NORTH AMERICAN Operations JOHN SPIELBERGER. "Coupling our combined knowledge of the electronics marketplace, with ADCOM’s sophisticated products and engineering/development expertise and EMERSON's access to world class manufacturing and distribution capabilities, creates numerous growth opportunities for ASI. We believe that the long-term upside of this venture makes this an attractive opportunity for EMERSON RADIO and its shareholders."