Business Notebook: Manhattan Firm Acquires CorrectNet, Van Son Announces New Managing Director

CorrectNet acquired by Manhattan-based financial firm

CorrectNet, a Hauppauge-based provider of scalable information distribution, announced Wednesday morning it had been acquired by Netik, a global financial information management firm.

A statement released by CorrectNet company officials said, "The union of CorrectNet with Netik’s information management products and services is highly complementary and unique to the market place."

The financial details of the deal was not publicly disclosed.

Read the full story of Netik acquiring CorrectNet here.

Van Son promotes James Thoele to Managing Director

Van Son Holland Ink, an Islandia-based manufacturer of high performance printing inks, announced Tuesday it promoted James Thoele to become the company's' new managing director of technical services.

"James has been an instrumental part of our team for the past nine years, delivering the hands-on support and industry guidance that makes Van Son such a huge value-add to printers nationwide," said John Sammis, president of Van Son Holland Ink in a statement.

Thoele will assume leadership of the company's technical functions, with responsibility for establishing and maintaining relationships with the company's clients.

Read more about the changes happening at Van Son Holland Ink.

Audiovox reports higher profits in the 2011 fiscal year

The consumer electronics marketing firm announced Monday its profits increased in the 2011 fiscal year, despite weaker sales in the fourth fiscal quarter ending February 28.

Audiovox generated an operating income of $9 million for the 2011 fiscal year and improvement from the $5.2 million in the previous year.

"Our strength in the mobile sector led to modest year-over-year growth that enabled us to offset industry-wide weakness in certain consumer categories," said Pat Lavelle, president and CEO of Audiovox, in a statement.

Audiovox also closed a business agreement toh on March 1 for $167.6 million.

Read more about Audiovox's financial status here.