SOURCE: Cedar Electronics

Cedar Electronics

April 19, 2016 07:00 ET

Cobra Electronics Acquires Bold and Aggressive Action-Sports Camera Pioneer WASPcam

Acquisition Offers Rapid Entrance Into Fast Growing Action Cam Segment While Expanding Product Offering to Company's Driving, Boating and Outdoor Enthusiast Customers and Partners

CHICAGO, IL--(Marketwired - Apr 19, 2016) - Cobra Electronics, held by Cedar Electronics and the leading designer and marketer of award-winning automotive, mobile and consumer electronics, today announced the acquisition of WASPcam™; maker of affordable, high-performance HD action-sports cameras and accessories for outdoor enthusiasts around the world living the PROVE IT lifestyle. The acquisition further extends Cobra's growing portfolio of category-leading consumer electronics products that include radar detectors, CB radios, Drive HD™ Dash Cams, portable power and VHF radios while enhancing its value proposition and offerings to professional and amateur adventurers and outdoor enthusiasts.

Founded in Ontario, Canada in 2013 by renowned powersports and action-sports enthusiast Justin Moore, WASPcam offers a family of rugged, high-quality HD cameras and accessories which cater to the bold, free-spirited mobile lifestyle of its customers who want to constantly film, edit, share and PROVE IT. Its bold and feature-rich product lineup delivers advanced capabilities that outpace competitors including live viewing screens, higher frame-rate quality and superior resolution -- all at highly competitive prices.

"I am pleased to welcome the WASPcam team and product line to our growing portfolio," said Sally Washlow, CEO of Cedar Electronics. "We continually strive to enhance our brand portfolio and value proposition to meet the needs of our driving, boating and outdoor enthusiast customer segments, whether organically or through acquisition, and WASPcam helps us achieve that objective. With a focus on superior performance, affordability and reliability at our core, our customers can anticipate rapid and insightful innovation from us in the action-sports camera category as we continue to support our customers' bold and aggressive lifestyles." 

"We are excited to join forces and to do so at a time when the action-sports cam market is literally exploding in terms of popularity, innovation and content creation," said Justin Moore, Founder of WASPcam. "Their team offers us access to the engineering, supply chain and channel resources necessary to become a dominant force in this market and a household name among outdoor enthusiasts, and together we will achieve that goal."

About Cobra Electronics
Cobra Electronics is a major brand of Cedar Electronics, a leading global supplier of mobile and consumer products. Cedar Electronics possesses a strong brand portfolio including Escort, Beltronics and Cobra Electronics. Leveraging its leadership position in the radar detector and Citizens Band radio categories, Cobra Electronics has aggressively grown both domestically and internationally with an ever-expanding family of automotive products that include dash cams, power inverters, portable jump starters, and more. Cobra Electronics has sales and marketing operations in North America, South America, Europe and China. To learn more please visit www.cobra.com. Follow Cobra on Twitter at www.twitter.com/CobraElectronic and friend us at www.facebook.com/CobraElectronics.

About WASPcam
WASPcam™ is a bold and energetic maker of innovative action-sports cameras in this rapidly expanding category. Since launching in Ontario, Canada in 2013, WASPcam has grown both domestically and internationally and provides outdoor enthusiasts with highly affordable, user-friendly and high-performance action-sport cameras for professionals and amateurs to capture adventure and PROVE IT™. To learn more please visit www.waspcam.com. Follow WASPcam on Twitter at www.twitter.com/WASPcam and friend us at www.facebook.com/WASPcam.

About Cedar Electronics
Cedar Electronics, a leading global supplier of mobile and consumer products possesses a portfolio of industry leading brands including Escort, Beltronics and Cobra Electronics. Escort, a premium brand for auto-enthusiasts, is the leading manufacturer of high-performance radar and laser detectors and the patented Escort Live™ real-time ticket protection network. Escort manufactures products under the Escort, PASSPORT, Max, REDLINE, SOLO and Pro brands. Beltronics, geared towards auto enthusiasts interested in raw power and bold design, manufactures radar and laser detectors under the STi, Pro and Vector brands. Cobra Electronics, a brand leader in consumer electronics, has aggressively grown both domestically and internationally with an ever-expanding family of innovative automotive and consumer lifestyle products that include radar detectors, dash cams, power inverters, portable chargers/jump starters, and the patented iRadar® app, the cloud-based, real-time threat detection and reporting network application.

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