Strategy in TECH...
Savant Systems announced today that it has decided to pull out of the CEDIA Expo, scheduled for the beginning of September in Indianapolis, due to concerns surrounding health and safety. As the COVID “Delta” variant continues to fuel a new wave of infections around the country, many potential attendees are likely making the same calculation.
Moody’s Investors Service, one of the top global credit and bond rating agencies, announced last week that it has raised the credit rating on Wirepath LLC (dba Snap One) based on its successful completion of an initial public offering of shares of the company’s stock. This is good news for Snap One and potential investors.
Last Friday, Amazon founder and now former CEO Jeff Bezos woke up the richest man in the world. He has been the richest man in the world for quite some time now. Yet when he went to bed Friday evening, he was no longer. And the reason that’s so should serve as a warning to you and all of us in the tech biz in 2021.
Emerald Holding, Inc. (NYSE:EEX), owner of the CEDIA Expo show, reported its results for the second quarter of fiscal 2021 confirming that the company lost $46.5 million in the quarter as it continues to struggle with the impact of COVID-19. Clearly, the pandemic slammed the live event and exposition industry and even as coronavirus begins to wane, the industry is finding it difficult to return to normal.
Crestron announced on Monday that it was joining with members of the Bargetzi family to create the Fred Bargetzi Memorial Scholarship, created to honor the memory of the company’s much-beloved and long-time Chief Technology Officer Fred Bargetzi, who passed away in January of this year. The scholarship will be for select students of Bargetzi’s alma mater, the University at Buffalo, and will serve both “to empower students at the University at Buffalo to succeed in their education by removing barrier’s from their progress”…and to offer a lasting legacy of the CTO who was so meaningful to one of this industry’s greatest technology companies.
Snap One Holdings Corp (Snap One) – formerly SnapAV – has filed an S-1 registration with the Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO) of its stock on a public exchange. In this S-1 filing, we learn much about the company’s current position and what its plan is to grow the operation to even loftier heights.
Crestron Electronics announced on Friday that long-time company President and CEO Randy Klein will retire from the company “later this year.” The news was a bit of a surprise and the company said that Crestron Chairman and COO Dan Feldstein – son of company founder George Feldstein – will assume the role of President and CEO after Klein retires.
While there were many horrible ramifications of the COVID-19 pandemic that sickened and killed many Americans and people around the world, one interesting byproduct has been a renewed look at our world of work and how it can be changed and/or improved. News organizations around the world are just now talking about the results of a recently concluded study in Iceland that may change our world of work forever.
LG Electronics Inc (LG) released preliminary results for their fiscal 2021 second quarter, and they were an eye-opener. In fact, even in the wake of their surprising decision to exit the smartphone business, the company says they booked an all-new record in the quarter.
Voxx International has announced that they have finalized their agreement to partner with Sharp Corporation to acquire the Home Entertainment Division of Onkyo – news that Strata-gee readers knew about last week. The news comes as a result of Onkyo shareholders voting last Friday to approve the sale of the company to Voxx’s subsidiary known as the Premium Audio Company. Not much was new here on the Onkyo front, as we already told you about the deal only covering the Onkyo and Integra brands. However, we did learn some more interesting details on the company’s attempts relative to the Pioneer and Pioneer Elite brands.
