Firm client Audiovox Corp. noted for sale of Audiovox Communications Corp. to UTStarcom Inc., <i>Newsday</i>,

Firm client Audiovox Corp. noted for sale of Audiovox Communications Corp. to UTStarcom Inc., Newsday, "Calling It Quits: Audiovox Will Exit Cell Business"

In the June 15th edition of Newsday, an article entitled "Calling It Quits: Audiovox Will Exit Cell Business" notes that "[A]mid intense competition and falling prices, Hauppauge [New York]-based Audiovox Corp. is selling its cell phone business 20 years after the electronics company sold its first car phone. UTStarcom, based in Alameda, Calif., will buy the wireless business for $165 million in cash....Under the deal, UTStarcom acquires select assets and liabilities, inventories and about 269 employees of Audiovox Communications Corp., the cell phone subsidiary of Audiovox, as ell as the royalty-free use of the Audiovox names for five years....Now, about to enter its third decade of business, Audiovox will return to its roots as an electronics company." [Representing Audiovox are partners Jonathan Adler, Stuart Gelfond and Jonathan Lewis.]

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