Strategy in TECH...
Much like the last few years, exhibitors at the Consumer Electronics Show (CES) in Las Vegas have largely focused on advances in artificial intelligence (AI). All major manufacturers spoke to it…none more deeply than LG, whose 45-minute press conference began with AI…ended with AI…and had a lot of AI in the middle.
So the book is now closed on 2024 and…good or bad…it certainly was a consequential year for our industry. And while in the wake of all of that, we in the industry try to sort out what new challenges and opportunities 2025 brings…how did investors fare last year?
It was March of 2023 when I began picking up on the buzz that something big was in the works in the buying group world. At the Spring members conference of Azione Unlimited, which had been acquired by and was now part of Nationwide Marketing Group, President and founder Richard Glikes introduced Azione members to a new initiative called the “Drive to 1,000.” Although not a lot of details were discussed at this event, clearly something big was in the works.
Now, a little over a year later, I met with the entire management team of Nationwide’s Custom Integration Group, including Andy Orozco (Nationwide Senior Vice President of Custom Integration), Patrick McCarthy (Executive Director of Azione Unlimited), Hank Alexander (Executive Director of Oasys Residential Technology Group) and Chris Whitley (Executive Director of Ellipsys Commercial Technology Group) to take stock of just what has transpired over the last year or so with the new, expanded family of groups that are all under the Nationwide Marketing Group umbrella.
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.
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.
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.
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…
Last week, a jury was convened for a special trial to determine reasonable damages in the matter of GeigTech East Bay LLC v. Lutron Electronics Co., Inc. GeigTech, the plaintiff in this case is the manufacturer of motorized shade products marketed under the J Geiger brand, an independent company owned by Savant (and which is not a party to this litigation). Lutron has already been found to have infringed on certain patents held by Geigtech and the original jury’s large damages award was set aside by the judge who found it to be excessive. This new trial was held to determine a more reasonable damages amount.
Samsung Electronics and the largest union at the company have finally reached a preliminary agreement on a new contract that provides for a wage increase as well as other benefit enhancements, the company announced today in Korea. The deal should put an end to any further labor actions. However, it still needs to be ratified by the union membership.
Sonance, a leading manufacturer of fine custom integration audio gear, announced last week that it has appointed Glenn Kalinowski as Director of Sales and Strategic Partnerships. Kalinowski, the company says, is a “trusted industry expert” who will oversee key territories in North America, including Canada.
