Terms of the acquisition were not disclosed. In addition, the Company's infrared remote control systems allow these input devices to be controlled from any television in the home. Today's home buyers are expecting a new home to be fully 'wired' and capable of delivering the Internet to all computers as well as to all TVs. In addition, front door cameras, satellite TV, and DVD players should be available on all TVs.
Consumers expect telephone, computer, and television outlets throughout the modern home.
Multiplex's products combined with our market access will move Nortek to a leadership position in the home-systems market. Nortek is a leading international manufacturer and distributor of high- quality, competitively priced building, remodeling and indoor environmental control products for the residential and commercial markets. The Company offers a broad array of products for improving the environments where people live and work. Its products include range hoods and other spot ventilation products, heating and air conditioning systems, wood and vinyl windows and doors, vinyl siding products, indoor air quality systems, and specialty electronic products. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.