Thomson announced it has signed a definitive agreement to sell its consumer electronics Audio-Video (AV) activities outside Europe (AV US/ROW). In addition, Thomson will progress with closing its European Audio/Video and Accessories (AVA Europe) activities.
Thomson is selling the AV activities to Audiovox Corp. Completion of the sale is expected to take place on Dec. 31, 2007. Currently, the AV business sells a range of AV products, including DVD and MP3 players, under various brands including RCA. As part of the transaction, Thomson will assign to Audiovox rights worldwide to the RCA brand within the field of use for AV products. Thomson will also close its AVA Europe business, except for the Skymaster activities in Germany, where discussions with potential purchasers continue.
to Daily News