Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now


Bosch to Acquire Telex Communications

Telex Communications Holdings of Minneapolis, Minn. announced that it has signed a definitive merger agreement with a wholly owned subsidiary of Robert Bosch GmbH. Bosch will acquire Telex for an aggregate purchase price of $420 million, including the assumption of Telex indebtedness, subject to certain post closing adjustments. The merger agreement also provides for the satisfaction and discharge of the publicly held indebtedness of Telex and its affiliated companies. Upon closing of the merger, the surviving company’s name will be Telex Communications Holdings Inc., with headquarters remaining in Minneapolis.

Telex is a leading manufacturer and supplier of professional audio, wireless, life safety and communication equipment. Its systems are installed in a wide range of applications such as large stadium and airport projects, where customers are increasingly asking for turnkey solutions combined with security systems. In fiscal 2005, Telex generated sales of $308 million with nearly 2,000 employees at 14 locations in nine countries. The company is home to such well-known brands as Electro-Voice, Dynacord, Midas, Klark Teknik, Telex and RTS. If the merger is consummated, Telex will be assigned to and come under the leadership of the Bosch Security Systems division.

“With the acquisition of Telex, Bosch Security Systems can significantly expand its communications systems product offerings and penetrate the professional audio equipment market. The strength of the Telex distribution network will enhance our worldwide market position as a provider of comprehensive security and communications systems. At the same time, we expect to obtain a leading position in the American market,” said Bosch Board of Management member Peter J. Marks, who bears regional responsibility for the Americas and for the Security Systems division.

In 2005, Bosch Security Systems generated sales of approximately one billion euros from its business with intrusion and fire alarm systems, video surveillance, access control and communications systems. With some 7,800 associates, the division is represented at more than 40 locations in Europe, the Americas and Asia Pacific.

“Telex is a company with a strong tradition of high quality and customer satisfaction. We believe the acquisition of Telex by Bosch, a forward-looking company, will give our employees and business associates an opportunity to develop further in a growth oriented environment,” said Raymond V. Malpocher, CEO of Telex Communications.

The merger agreement has been approved by the Board of Directors of Telex and the Bosch Board of Management, and has been approved by the requisite holders of Telex voting stock, led by Jefferies Capital Partners, one of Telex’s largest stockholders. However, the transaction is subject to regulatory approvals, as well as other customary conditions. The parties expect to be in a position to close the transaction in the third quarter of this year.

Telex intends to distribute an information statement to its stockholders in connection with the proposed merger, and prospective investors and stockholders of Telex are urged to read the information statement when it becomes available and before making any investment decisions with respect to the merger.

For more information, visit