Gentex (GNTX) said Wednesday it agreed to acquire Voxx International (VOXX) in an all-cash deal expected to close in Q1 of 2025.

Under the deal, Gentex will acquire all Voxx common shares it doesn't already own for $7.50 per share, Gentex said.

Gentex said it expects its annual revenue to increase in the range of $350 million to $400 million due to the acquisition.

Voxx shares were halted on Nasdaq and are expected to resume trading at 09:50 ET.