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Toshiba increases stake in Audiovox

Toshiba increased its stake in Audiovox from 5 percent to 25 percent, Audiovox said this week. Toshiba acquired the additional shares and an $8.1 million bond in the wireless device maker for $32 million. As part of the deal, Audiovox will sell Toshiba mobile devices on an exclusive basis in North and South America. The Toshiba brand will also be on certain wireless products sold by Audiovox.

Toshiba increased its stake in Audiovox from 5 percent to 25 percent, Audiovox said this week. Toshiba acquired the additional shares and an $8.1 million bond in the wireless device maker for $32 million. As part of the deal, Audiovox will sell Toshiba mobile devices on an exclusive basis in North and South America. The Toshiba brand will also be on certain wireless products sold by Audiovox.