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Lanzar Car Stereo, the defunct high-end car audio company planned for resurrection by security/ audio maker Directed Electronics Inc. (DEI), has instead been purchased by importer/exporter Sound Around.
Lanzar, which did $9 million in sales last year, was liquidated last April. At that time, Vista, Calif.-based DEI planned to purchase Lanzar's assets for $1.45 million including trademarks, inventory, goodwill and receivables.
"We had been looking for acquisitions in both security and non-security and liked the potential of reviving Lanzar," said DEI's president/CEO Darrell Issa last month when the terms of the deal had been negotiated. "We wanted to address the high end of the market in our audio division,...