International Speedway Corporation Agrees to Acquire the Assets of Racing Electronics
Expands Presence throughout Motorsports Industry
DAYTONA BEACH, Fla., Nov. 01, 2018 (GLOBE NEWSWIRE) -- 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 Corporation
International 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 .
CONTACT:
Gentry Baumline-Robinson
386-681-6222
