International Speedway Corporation Agrees to Acquire the Assets of Racing Electronics
02 November 2018 - 3:15AM
Expands Presence throughout Motorsports
Industry
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 for motorsports 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.”
About International Speedway
CorporationInternational Speedway Corporation is a leading
promoter of motorsports activities, currently promoting more than
100 racing events annually as well as numerous other
motorsports-related activities. The Company owns and/or
operates 13 of the nation’s major motorsports entertainment
facilities, including Daytona International Speedway® in Florida
(home of the DAYTONA 500®); Talladega Superspeedway® in Alabama;
Michigan International Speedway® located outside Detroit; Richmond
Raceway® in Virginia; Auto Club Speedway of Southern
CaliforniaSM near Los Angeles; Kansas Speedway® in Kansas
City, Kansas; ISM Raceway near Phoenix, Arizona; Chicagoland
Speedway® and Route 66 RacewaySM near Chicago, Illinois;
Homestead-Miami SpeedwaySM in Florida; Martinsville Speedway®
in Virginia; Darlington Raceway® in South Carolina; and Watkins
Glen International® in New York.
The Company also owns and operates Motor Racing NetworkSM, the
nation's largest independent sports radio network, Americrown
Service CorporationSM, a subsidiary that provides catering
services, and food and beverage concessions. In addition, the
Company owns ONE DAYTONA, the retail, dining and entertainment
development across from Daytona International Speedway, and has a
50 percent interest in the Hollywood Casino at Kansas
Speedway. For more information, visit the Company's Web site
at www.internationalspeedwaycorporation.com.
CONTACT: Gentry Baumline-Robinson
386-681-6222Gbaumlinerobinson@iscmotorsports.com
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