Code-Alarm states that the investment "will allow [the company] to fund technology expansion and new product initiatives." As part of the agreement, the investors also agreed to invest additional capital in Code-Alarm to fund research and development efforts for a new generation of electronic car security and convenience products.

"This plan represents a milestone in our effort to improve Code-Alarm's balance sheet and provide the necessary financial resources for the future," states Peter Stouffer, president and chief operating officer of Code-Alarm. "Over the past year, we have been focused on the development of a major new product and electronics platform, which we intend to launch late this year. We believe the innovative new technology we've developed will reshape the vehicle security and convenience market."

"We appreciate the confidence that DTV and our primary investors are showing in the Company's future," adds Stouffer. "The entire management team of Code-Alarm is committed to executing our business plan successfully in the months and years to come."

Link for more info: www.code-alarm.com