$GAXY Gary LeCroy, Galaxy’s Chief Executive Officer, commented, “We are excited to add innovative audio technology to our product suite, as its something that our end customers, especially in the K-12 market segment have been demanding. This is evident by their strong revenue growth in the first half of 2019. We believe this is the first company to provide an open architecture solution that allows existing components to be used and to look beyond the space of intercom to extend capabilities of the system for other applications. The proposed acquisition also has 4 patents pending and expands our geographical footprint to the west coast. We are looking forward to advancing this transaction to the definitive stage and expect to close by the end of September.”
