Strategy in TECH...
Long rumored and now confirmed, Gentex Corporation (Nasdaq: GNTX), an approximately $2.4 billion supplier of largely automotive-related products, announced this morning that it has agreed to acquire Voxx International (Nasdaq: VOXX) in an all-cash transaction valued at $7.50 per share. The transaction covers all Voxx divisions, including the newly shrunk Premium Audio Company that holds just three audio brands – Onkyo, Klipsch, and Integra.
AudioControl, part of the AVPro Global stable of brands, announced this week a new series of high-performance integrated amplifiers embodying all of the latest technologies under the expanded Bijou Series name. This new series of three models features a super-compact design for install-anywhere flexibility while at the same time employing all of the latest technology, such as Gallium Nitride (GaN) circuitry, Dante networking, eARC connectivity, and more.
Azione Unlimited, a buying group of predominantly custom integration dealers that is part of the Nationwide Marketing Group family of dealer buying organizations, announced recently that it is adding Mike Cleary, Sonance Senior Director of Strategic Accounts, to its Board of Advisors. Unique to Azione, for years it has maintained an advisory board consisting of five dealer members and five vendor members to operate as its “strategic think tank.” The board’s role is to assist group management in fostering innovation, enhancing business success, and strengthening connections within the smart home industry.
It was a cool fall morning as I headed into New York City for a meeting that I’d been anxiously anticipating for weeks. The skies were gray and rain was definitely threatening, but nothing could dampen my interest in meeting with one of the newest key executives already exerting significant influence in our industry – Hagan Kappler, CEO of Daisy.
Procella Audio BV, a manufacturer of high-performance speakers for residential and commercial cinemas, announced on Tuesday that it has appointed well-known industry executive Tom Gandulla as its U.S. Director of Sales. Gandulla’s appointment was announced by Procella’s USA Managing Director Chuck Back.
Time (formerly Time Magazine) has published its list of the 200 best inventions of 2024 and it is an interesting and occasionally puzzling list at times. As a general interest news media outlet, Time covers a wide spectrum of suggested “bests” in a wide range of product types, but AV was definitely included. Check it out and see if you agree with its picks.
In a new report last week, we learned that the Securities and Exchange Commission (SEC) has launched an investigation into RTW Investments over its role in an “empty voting” scheme related to the Masimo Corp. proxy battle which concluded in September at the Masimo Annual Stockholders Meeting. Masimo, now under new board management, has accused former CEO Joe Kiani and RTW of colluding in an empty voting scheme to try and manipulate a board election in their favor and deprive shareholders of their voting rights.
Sonos, Inc. (Nasdaq: SONO) Chief Executive Officer Patrick Spence did his best to sound upbeat and exuberant recently as he discussed the company’s results for its fourth quarter (4Q) and full year of Fiscal 2024 on an earnings call with financial analysts. Although most expected poor results in the wake of recent challenges, the numbers were particularly rough as the company is struggling against market headwinds in the audio segment, a less-than-satisfying rollout of what it had hoped would be a blockbuster new product in a blockbuster new category (Ace headphones), and most vexingly, from its own self-inflicted wound with a horribly botched app rollout.
Spence faced a tough sell to analysts, even with reduced expectations, as the numbers were quite disappointing.
Late Tuesday, Masimo’s communications team reached out to Strata-gee to provide a statement designed to counter or otherwise address unspecified “speculative articles” on the recent pronouncement from Masimo CFO Micah Young that the Sound United division may end up being treated as a “discontinued operation” if the Board decides not to spin it off as a publicly-traded company.
Why are people speculating about that? Read on…
As another year begins to wind down, it is fitting that we all pause, catch our breath, and reconnect with friends and family. The holidays are a time to relax and unwind…to recharge our batteries, so to speak.
