09:23 AM EST, 12/18/2024 (MT Newswires) -- Gentex ( GNTX ) said Wednesday it agreed to acquire Voxx International ( VOXX ) in an all-cash deal expected to close in Q1 of 2025.

Under the deal, Gentex ( GNTX ) will acquire all Voxx ( VOXX ) common shares it doesn't already own for $7.50 per share, Gentex ( GNTX ) said.

Gentex ( GNTX ) said it expects its annual revenue to increase in the range of $350 million to $400 million due to the acquisition.

Voxx ( VOXX ) shares were halted on Nasdaq and are expected to resume trading at 09:50 ET.