Anuva Automation, the Melbourne, FL-based parent company of wireless home automation solutions provider Turn It On (TiO), announced today that it has named Sanjay Patel as the company’s new president. Patel replaces previous president Mike Anderson who stays on with the company in a consulting role.
See more about this new announcement from Anuva…
Coming in the wake of what the company says was a very successful CEDIA Expo, the timing of this announcement seems, on the face of it, a little strange. But looked at in the context of the big picture, this was not a wholly unexpected development.
After TiO lost its funding in May 2014, its then-parent company ACTP was approached by Anuva about a possible buyout. By July, the two companies had negotiated terms and announced the new acquisition which was official in August. Anuva acquired TiO from Anderson, who owned the company since 2012 when he purchased the ashes of Colorado vNet from then-owner Russound.
Since the acquisition last year, Anuva has made significant investments to build out the TiO eco-sphere. At CEDIA Expo earlier this month, the company launched am impressive roster of several new models, as highlighted by Strata-gee.com and several other media outlets.
In a prepared statement, the company notes that this new announcement is all part of the original plan and even subtitled their statement, Ownership Transition Meets Established Milestones.
“We’re thrilled that we exceeded our product development goals by CEDIA EXPO,” said Sanjay Patel, president of Anuva Automation/TiO in a prepared statement. “As we continue through the ownership transition, I’m excited to lead the next phase for the TiO brand. Mike has been instrumental in helping us grow TiO into a strong and healthy brand for the integration community and we look forward to continuing to work with him to grow the company with his sales and marketing expertise.”
New CFO Announced Also
As Patel noted, Anderson will continue consulting with the company on sales and marketing issues. Sources surrounding the situation told us that Anuva “values Mike’s insight and input.”
Prior to taking the president’s role, Patel was the company’s Chief Financial Officer (CFO) and has several years of experience with the Anuva companies. As a result of this transition, the company has additionally announced that it has appointed Rick Schell as new CFO for Anuva. Schell, the company says, is a former partner at accounting giant KPMG Peat Marwick and has extensive experience with small- to medium-sized businesses.
We reached out to Anderson for comment on these new developments, but were unable to speak with him prior to this posting.
For more information on TiO, visit: www.tiohome.com.