ORLANDO, Fla., July 12, 2018 /PRNewswire/ -- VOXX
Automotive, a leading designer, manufacturer and supplier of
electronic products for the world's automakers, and UniKey
Technologies, the world's largest mobile access control platform
provider, today announced a strategic partnership that will see the
two companies bring secure, keyless products, and vehicle access
solutions to the automotive market. VOXX Automotive is a business
unit of VOXX International Corporation (NASDAQ: VOXX)
VOXX brings strength and experience in the automotive vertical
to this partnership as well as its Phone-as-a-Key technology, which
seamlessly lets drivers use smartphones as vehicle key fobs. UniKey
adds Bluetooth® location capabilities, communications and secure
cloud services expertise, as well as a scalable digital key sharing
platform. Together, the technology harnesses a Bluetooth-enabled
mobile application, vehicle sensor array and cloud infrastructure
for drivers to seamlessly access, use and share their vehicles.
A contract awarded to VOXX Automotive by an electric vehicle
(EV) maker has the two companies already working on a keyless
solution for an EV model to be delivered in 2019. Looking ahead,
this partnership is expected to yield family key-sharing and
car-sharing services as well as similar uses by car rental firms
and auto fleet operators.
"The relationship with UniKey allows VOXX Automotive to further
accelerate our drive to eliminate the need for consumers to carry
their car keys or fobs," said Michael
Schroeder, VOXX Automotive's Senior Vice President of OEM
Sales and Business Development. "More importantly, it represents
yet another way VOXX allows OEMs to differentiate themselves from
other marques in the global automotive market. In UniKey we have a
partner who shares our efob Phone-as-a-Key vision."
The agreement with VOXX represents UniKey's first move into the
automotive OEM arena and comes after its technology has been
employed by leading home door hardware and commercial access
control brands, with more than 200 million lock and unlock events
to date.
"Our vision is to let consumers effortlessly access their homes,
offices, and automobiles, while increasing security, visibility and
control," said Phil Dumas, UniKey's
Founder and CEO. "Far more than a matter of convenience, this
partnership will help automakers and related companies capitalize
on major market shifts in how consumers use automobiles. As
car-sharing, ride-sharing and fleet management markets rapidly
advance, the opportunity to create competitive advantages from the
products we will jointly develop with VOXX Automotive is
massive."
The global car-sharing market is projected to grow at 34.8%,
year-over-year, between now and 2024, when it will total
$16.5 Billion, according to Global
Market Insights. The car rental market is estimated to show a
compound annual growth rate of 10.24% between now and 2220, based
on analysis by Research and Markets.
About UniKey
UniKey Technologies, the world's largest smart access control
platform provider, is changing the way the world accesses
everything by replacing the entire keychain with your phone. With
the most secure and convenient mobile key platform, UniKey is
empowering access control manufacturers with the tools to
future-proof their legacy systems. Leveraging Touch-to-Open® and
Inside/Outside Intelligence™, UniKey's platform powers an
unparalleled, seamless user experience. UniKey serves the access
control industry by licensing its technology, and partnering with
market-leading companies in the residential, commercial, automotive
industries, and beyond. For more information on UniKey, please
visit www.unikey.com.
About VOXX Automotive
VOXX Automotive,
headquartered in Orlando, Florida
with OEM operations in Detroit,
Michigan, is a global automotive designer, manufacturer and
supplier of a broad range of consumer visible electronic products
for the world's automakers on an OEM basis. The Company is an
innovative leader in rear-seat infotainment solutions, vehicle
security and seamless access systems, remote start systems, car
sharing systems, smartphone telematics applications and more. VOXX
Automotive counts among its customers FCA, Ford, GM, Hyundai,
KIA, Lincoln, Mazda, Nissan,
Subaru, and Toyota, among others. For more information, please
visit www.voxxintl.com/bu/automotive.
About VOXX International Corporation
VOXX
International Corporation (NASDAQ: VOXX) has grown into a
worldwide leader in the Automotive, Consumer Electronics, Consumer
Accessories and Premium Audio industries. Today, the Company has an
extensive distribution network that includes power retailers, mass
merchandisers, 12-volt specialists and many of the world's leading
automotive manufacturers. The Company has an international
footprint and a growing portfolio, which comprises over 30 trusted
domestic and global brands. Among the Company's brands are
Klipsch®, RCA®, Invision®, Rosen®, Audiovox®, Terk®, Acoustic
Research®, Advent®, Code Alarm®, 808®, Prestige®, EyeLock, Jamo®,
Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, and
Oehlbach®. 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, 2018.
VOXX
Contacts
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Company
Contact
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Investor
Relations:
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Media
Relations
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Michael
Schroeder
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Glenn
Wiener
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Steve Hoechster
(HEX-ster)
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VOXX
Automotive
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GW
Communications
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GW
Communications
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248-307-3883
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212-786-6011
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212-786-6015
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mschroeder@voxxintl.com
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gwiener@GWCco.com
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shoechster@GWCco.com
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UniKey
Contact
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Hilary
Pogarch
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248.891.3284
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hpogarch@unikey.com
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SOURCE VOXX Automotive