The Austin-based company did not disclose the company to be acquired nor the purchase price. The conclusion of the deal awaits a definitive agreement and due diligence. Paul Rush, Earful's CEO, estimated the acquisition could add about $3.5 million of annual revenues. "The economies of scale of a fully integrated distribution system would enable Earful to increase operating efficiencies, through added volume and lower operating costs, and provide all our customers with more content in more recording formats," Rush said in a statement.
Earful's stores are in Texas, California, Maryland, Oregon, Virginia and Washington. The company also has an agreement with Blockbuster Video to co-locate Earful stores in or near Blockbuster locations.
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