South Korea is buzzing at the news that prosecutors have demanded no less than a 12-year prison term for Samsung’s billionaire heir, Jay Y. Lee. Lee is accused of attempting to solidify his total control of the massive company through a sketchy scheme that included bribing the South Korean President, Park Geun-hye.
Financial
ATI Acquires Datasat Digital Entertainment
BREAKING NEWS
American amplifier manufacturer ATI (Amplifier Technologies Inc.) has acquired Datasat Digital Entertainment, a leading provider of digital surround sound technology for commercial cinemas and luxury home theaters, according to multiple sources. In a deal that sources tell us closed on Wednesday, ATI will take over and stay committed to both of Datasat’s primary market segments – commercial and residential.
See more of what we know on the ATI and Datasat deal… [Read more…] about ATI Acquires Datasat Digital Entertainment
Reformulated Russound is Ready to Rumble
In an extended meeting with Russound CEO Charlie Porritt and Vice President of Product Development Colin Clark, Strata-gee had the opportunity to learn details of the relatively dramatic developments at the company – many taking place behind the scenes – that management has undertaken over the last few years to better position the company for the future. Like a fighter with a new trainer who has put him on a strict diet and rigorous training regimen, Russound has emerged from an at-times painful multi-year process leaner and meaner…and ready to rumble.
Find out what we learned about the meaningful changes at Russound… [Read more…] about Reformulated Russound is Ready to Rumble
Legrand Acquires Milestone in Largely a Commercial Play
France’s Legrand announced today it has signed an agreement to acquire Milestone AV Technologies in a deal valued at $950 million. The deal is another example of continued industry consolidation, although in this case, it was largely a play by Legrand for Milestone’s predominantly commercial business rather than the residential portfolio.
See more on this deal which is twice as big as any previous Legrand acquisition… [Read more…] about Legrand Acquires Milestone in Largely a Commercial Play
PE Firm General Atlantic Sells Its Stake in SnapAV
BREAKING NEWS
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.
See more on this big change at SnapAV… [Read more…] about PE Firm General Atlantic Sells Its Stake in SnapAV
LeEco Appears to be Falling…Hard
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.
See more on this dramatic announcement from LeEco… [Read more…] about LeEco Appears to be Falling…Hard
Toshiba Machine Buys Its Independence from Toshiba
You know things aren’t going well when divisions of your own company want to break the chains of their association with you. That is essentially what happened when Toshiba Machine “bought” its independence by buying out the shares of its stock held by parent company Toshiba Corp.
A new and strange twist in the saga of the stumbling Toshiba… [Read more…] about Toshiba Machine Buys Its Independence from Toshiba
Toshiba Announces ‘Substantial Doubt’ on Ability to Continue
An Industry Giant Stumbles, Then Falls; Can It Get Back Up?
Toshiba, once the embodiement of Japanese industrial might offering everything from rice cookers to nuclear reactors, has released financial results for the first three quarters of the current fiscal year and it’s not good. For the first time in the over-century old company’s history, the results announcement warned of doubts about the company’s ability to continue as a “going concern.” And that wasn’t the only bad news included in the report.
See the stunning news about Toshiba’s dire circumstances… [Read more…] about Toshiba Announces ‘Substantial Doubt’ on Ability to Continue
As We Suspected, The Deal is Off Between LeEco & Vizio
Less than a week after we questioned whether Chinese manufacturer LeEco would be able to actually complete its proposed $2 billion acquisition of Vizio, we received a note from a Vizio-connected official, saying that “the merger agreement to acquire Vizio will not proceed…” Given our report last week, this shouldn’t be a big surprise to Strata-gee readers…and it certainly was not to us.
But where do things between LeEco and Vizio go from here? Read on… [Read more…] about As We Suspected, The Deal is Off Between LeEco & Vizio
LeEco Just Missed Its Payroll, Can It Still Buy Vizio?
Bloomberg is reporting that Chinese mega brand LeEco missed its normal payroll at the end of March, telling employees it would pay them a few days later. While this is a situation that is not unfamiliar to many small business owners, LeEco is anything but your typical small business owner. They are supposedly in the final stages of a $2 billion acquisition of major TV brand Vizio.
But if LeEco can’t make their own payroll…how can they still buy Vizio?