NIAGARA FALLS, ON, Feb. 22 /CNW/ - Circus World Displays Ltd (CWD) announced today that it has finalized an agreement with SYNNEX Canada Limited, a subsidiary of SYNNEX Corporation (NYSE: SNX), to acquire the assets of its BDG division, including the Citizen*, Electrohome, Magnasonic and Secureguard brands. The acquisition is expected to close on or about February 24, 2010.
"We are extremely excited for the opportunity to reinvigorate these brands that have become household names in Canada," said Rajesh (Raj) Jain, a managing director of CWD. "We have retained the majority of the BDG team and are thrilled about having them join our family".
CWD has had much success in expanding into the United States market with its sale of consumer electronics products. Its two main divisions, SVAT Electronics and Tronics International, have developed such brands as SVAT, Levana, Nyrius, Defender and Fluance. The acquisition is expected to expand CWD's footprint in Canada with the development of the purchased brands.
The new division will be known as the BlueTronics Group and will be headed by Deepak and Raj Jain, who will be Co-Presidents for the division. The BlueTronics Group headquarters will be located at an office in Toronto, Canada, while CWD headquarters will remain in Niagara Falls, Canada.
CWD is a privately held corporation that has been in business since 1961. It designs, manufactures and markets consumer electronics. Its mission is to enhance people's lives through high quality, simple to use and cost effective consumer electronics. Its products are sold through various distribution channels including mass merchants, electronics retailers, distributors and others. CWD operates two main divisions:
SVAT Electronics is a manufacturer of DIY (do-it-yourself) Video Security systems, baby safety and security products, and gadget consumer electronics. The products are sold under four brands:
Tronics International designs, manufactures and markets its own line of home theater speakers under the brand Fluance, which can be found on the website www.fluance.com.
For more information visit www.svat.com or www.fluance.com.
*Canadian Trademark of Citizen Brand
SOURCE CIRCUS WORLD DISPLAYS LTD.
For further information: For further information: Joanne Guminska, Legal Analyst for CWD at JoanneG@svat.com