Mustek has acquired Tier One Electronics, a specialist supplier in the field of mobile electronic applications.
Tier One Electronics products range from custom in-car audio, DVD and navigation solutions, to popular consumer products such as portable DVD players, portable navigation devices, MP3 players and mobile in-car multi-media/computers.
Tier One Electronics holds an number of exclusive distribution rights in southern Africa, including Audiovox's full range of products; Audiovox’s Mobile Video products for certain OE manufacturers in mainland China and the Middle East; BOSS Audio Systems mobile electronic products; and Rosen Entertainment Systems.
The company collaborates with a number of specialist mobile electronic applications to major local motoring brands. To this end, Tier One has approved supplier status with a number of local motor manufacturers and importers, including Ford, General Motors, Hyundai, Jaguar, KIA, Land Rover and Mahindra.
“Tier One Electronics came into being in November 2001 with the launch of the Video Traveller," says Stephen Easton, MD of the company. "Following the conclusion of an exclusive supply agreement with Audiovox Corporation, and the establishment of OE contracts with major local motor manufacturers, we experienced substantial growth and expansion to enhance our footprint across most of South Africa.
"By partnering with Mustek Electronics, the largest IT company in Africa, we plan to further enhance our products and brands into new sectors of the South African market.
“We look forward to operating within the Mustek group with its extensive resources and bringing new ranges of exciting products to the market, including the launching of the RCA range of audio, video and accessory products in July 2008," he adds.
Hein Engelbrecht, MD of Mustek, comments: “Mustek’s growth strategy is to identify suppliers of niche products with higher margins in order to provide them with financial support and to introduce their products to our extensive dealer base and the retail channel. By using our existing infrastructure more extensively, without the duplication of expenses or incurring of any additional operational costs, we believe that we will add to the bottom line, thereby creating additional wealth for all stakeholders”.