Strategy in TECH...
CI coaching business Vital announced this week that well-known industry veteran Lawrence Davis has joined the company as its new VP of Business Development. The company says that this move is “the first step in their growth plan.”
Moody’s Investors Service, one of the nation’s largest credit rating agencies, announced last week that it has raised the credit rating of Guitar Center, the owner of custom integration company Audio Visual Design Group. Guitar Center has struggled for years, finally falling into bankruptcy – from which it emerged about ten months ago in December 2020.
Kaleidescape announced this week an expansion of its movie server line with the new compact Terra 18TB. Positioned as a mid-level model for the brand, the Terra 18TB offers some sweet features that are sure to make it a popular option for movie fans.
As the first and one of the most prominent brands that decided to pull out of the recent CEDIA Expo in Indianapolis last month, Savant based their difficult decision on placing the safety of their employees and customers as their key concern in a time of surging Delta-variant COVID infections. But that decision did not mean that they didn’t want to communicate with their dealers about the many exciting developments at the company. So Savant developed a powerful two-pronged approach (the 1-2 punch I mentioned) to deliver their dealers a better – virtual – trade show.
Nice, a global manufacturer of Smart Home, Security, and Home & Building Automation products based in Italy, announced today that it has acquired Nortek Security & Control – purchased from Melrose plc for $285 million. The move expands Nice’s portfolio and strengthens its North American presence.
As I am sure that most readers of this post will know, during CEDIA Expo at the beginning of September, I published a continuously updated post tracking which previously announced exhibitors subsequently made the decision to pull out of the event as the COVID Delta variant raged on. A remarkable realization occurred as I worked on that post, literally speaking with dozens, if not hundreds, of exhibitors and attendees for that event – many of them were confused about who owned the CEDIA Expo!
Last Friday, Strata-gee broke the news that both Cheena Srinivasan and Michael Malcolm, co-founders of Kaleidescape, had left the company recently to pursue new opportunities. (A third co-founder, Dan Collens, left the company back in 2006.) Kaleidescape, the leading media server manufacturer in the upscale residential space, is an important supplier to many custom integrators, so this is a big change. Late Friday, after Strata-gee broke the news of the change, the company put out a formal statement on the situation.
Premium networking systems and services specialist WhyReboot announced this week that they have set up a national network of independent specialty manufacturers sales representatives. The company has appointed nine top rep firms across the country, expanding their local presence for both sales and support.
Melrose PLC, the private equity turnaround expert that purchased the entirety of Nortek back in 2016, unceremoniously let it slip in a bullet point of a report on financial results, that it has found a buyer for the last remaining piece of the Nortek puzzle they have struggled to turn around over the years. Although they did not name the buyer, Melrose says a contract has been signed for a $285 million deal – remarkably low considering all the brands included in this transaction.
Bowers & Wilkins (B&W) announced today that they have partnered with BMW as the audio system provider for their new luxury electric SAV (sports activity vehicle)…the eagerly anticipated iX. The company says that engineers from both of the partners worked closely together to develop an audio experience that “feels as though you are there with the artist in the studio” – or what B&W likes to call “true sound.”
