Strategy in TECH...
SnapAV announced today that General Atlantic, its private equity partner, has sold its ownership interest in the company to San Francisco-based Hellman and Friedman, another private equity group. The move, while unexpected, is not unusual in the world of private equity – especially in the case where a portfolio company transitions stages of growth that move it beyond the the investment strategy of the PE partner as compared to when the investment was initially made.
Sony CEO Kazuo Hirai is feeling pretty good these days. After an incredibly tough turnaround period where many questioned his plan, Hirai said this week that the company expects to book an operating profit of ¥500 billion ($4.5 billion) in the fiscal year ending March 2018, its highest operating profit in 20-years according to a report by the Nikkei. But the CEO admits that, as good as this news is, the company is still short of a full turnaround.
What’s needed for a complete turnaround of Sony’s business? Innovation…
Ft. Collins, CO-based CasaTunes announced this week that it has launched a new feature to better address their growing global business. This new feature is a call to Muslim Prayer feature, which will be very handy for end users in their growing Middle East business. A unique capability ignored by most system providers, this new call to Muslim Prayer support allows users to schedule and customize their personal call to pray.
What started as a roar appears to be ending as a whimper, as Asian wannabe-giant LeEco announced this week plans to lay-off nearly 70% of their entire U.S. workforce. This significant retrenchment occurs just weeks after its proposed $2 billion acquisition of Vizio fell apart just before closing, and suggests the company, which is in multiple businesses, may have gotten ahead of itself…and ahead of its funding.
Simply Reliable Software announced this week that it has added a dramatic new feature called “Digital Proposals” in the latest update of its SmartOffice software. The company called Digital Proposals “a game changing feature.”
Momentum continues to build for voice-enabled devices like Amazon Echo and Google Home products, according to new data and forecast from eMarketer. Usage rates also appear to be increasing for the broader category of virtual assistants, such as Apple’s Siri, Amazon’s Alexa, Google’s Now and Microsoft’s Cortana.
Control4 Corp. announced today the launch of a line of outdoor audio solutions from their newly acquired Triad Speakers division. Called the Triad Garden Array outdoor speakers, the line includes a satellite speaker along with an outdoor subwoofer – all designed to be placed broadly throughout an entire outdoor entertainment space.
Just one month after Delaware District Court judge Richard G. Andrews ruled against D&M Holdings’ attempt to have four key Sonos patents invalidated, we learn that Sonos was successful in winning a dismissal of three of D&M Holdings’ counterclaims of patent infringement against them. However, four additional counterclaims filed by D&M survived the challenge and the counter-lawsuit will continue.
Control4 announced on Tuesday a new line of power monitoring and control solutions in its Pakedge PowerPak line. Saying, “Power monitoring and control is the first-line of defense in bringing a system or device back online,” these new units bring enhanced levels of intelligent control of power, the lifeblood of any system.
A lawsuit has been filed in the U.S. District Court in Northern Illinois against Bose Corp. alleging that the popular brand is spying on consumers, collecting personal usage data, and selling or otherwise using this data for profit. All of this, the suit claims, is done in violation of various Federal and State privacy laws and with no warning or notification to the consumer.
