Table of Contents
Item 8.01 Other Events
On May 4, 2017, Universal Electronics Inc. (“UEI”) issued a press release regarding its recent acquisition of certain assets of Residential Control Systems, Inc. (“RCS”). A copy of the press release is furnished as Exhibit 99.1 to this report. By this acquisition, UEI, through one of its subsidiaries, acquired RCS’ product lines, inventory, intellectual property, engineering and development resources, sales and distribution relationships, and other assets used in RCS’ communication and smart thermostat business.
The purchase price to be paid in cash for these assets shall be approximately $9 million plus an incentive based additional consideration to be paid in cash over the next five years.
to General Instruction B2 of Form 8-K, the information contained in Exhibit 99.1 will be deemed furnished, and not “filed,” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in any such filing, or subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

About UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC)

Universal Electronics Inc. (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers. Its offerings also include software, firmware and technology solutions that enable devices, such as televisions, set-top boxes, stereos, smart phones tablets, gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services.

UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Recent Trading Information

UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) closed its last trading session down -0.55 at 68.20 with 46,189 shares trading hands.