We believe we are a leading global manufacturer and supplier of consumer electronic products in the automotive, premium audio and consumer accessory industries. We have developed a broad range of products sold under a portfolio of over 30 well-known consumer brands such as Klipsch®, RCA®, Audiovox®, Magnat®, Heco®, Acoustic Research® and automotive Original Equipment Manufacturer ("OEM") brands such as Invision® and Code-Alarm®. We maintain leading market share positions across targeted product categories and supply our products to a highly diversified customer base consisting of automotive OEMs, specialty consumer electronics and mass merchandise retailers, power retailers, 12-volt specialists and other commercial entities.
We have grown organically and through strategic acquisitions, both of which have enabled us to expand our product offering and diversify into new markets and geographies. Since 2002, we have completed twelve acquisitions, while also making strategic equity investments in innovative and emerging growth companies. In 2017, we completed the sale of one of our prior acquisitions, Car Communication Holding GmbH and its worldwide subsidiaries generating net proceeds of over $170 million, which enabled us to strengthen our balance sheet while providing additional capital to fund the next phase of our corporate evolution. We have also added substantial research and development resources, enabling us to introduce a robust pipeline of new products that are responsive to key market trends and that we believe will enable us to increase market share and margins across each of our operating segments. Further, with the added resources from prior acquisitions, we have added manufacturing capabilities to complement our outsourced manufacturing strategy. This blend of internal and outsourced manufacturing enables us to drive innovation, control product quality and speed time-to-market.
Our company was incorporated in 1987 as successor to a business founded in 1960 by John J. Shalam, our Chairman of the Board. Effective December 1, 2011, Audiovox Corporation changed its name to VOXX International Corporation, which more accurately reflects our global business today. We have three reportable operating segments-Automotive, Premium Audio and Consumer Accessories.