International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today announced that it has entered into an agreement to acquire the assets of Racing Electronics.
Racing Electronics is known worldwide as a leader in motorsports communications technology and equipment formotorsports drivers, teams, series, venues, and fans, as well as the exclusive provider of FanVision technology to NASCAR and NHRA. Racing Electronics is also the Official Two-Way Radio and Race Communications Provider of 14 major sanctioning bodies including ARCA, IndyCar, NHRA, World Racing Group and USAC.
“Our companies share a team-driven culture consumed with developing new ways to enhance the fan experience,” stated Chris Schwartz, ISC Managing Director, Broadcast and Integrated Marketing and VP, Motor Racing Network. “We see the Racing Electronics team continuing to play a key role as we expand our industry footprint.”
Racing Electronics’ signature products including LEGEND and FanVision, along with scanners, headphones and intercom systems, amplify fan engagement, bringing them closer to the racing action. Fans can connect with their favorite drivers and become immersed in major national motorsports events including NASCAR, NHRA, IndyCar and World Racing Group.
Beginning January 1, 2019, ISC will assume operation of Racing Electronics. Leadership and nearly 70 full-time employees will remain intact with Racing Electronics President of Motorsports Chad Willis continuing in his role and reporting to Schwartz. Racing Electronics will maintain its manufacturing and business operations from its Concord, NC headquarters.
“We couldn’t be happier to join ISC as we celebrate Racing Electronics’ 30th year,” stated Willis. “ISC’s recent redevelopment projects at Daytona International Speedway, Richmond Raceway and ISM Raceway, demonstrate its ability to transform the race day experience for fans. We are excited to become part of this progressive Company.