Strategy in TECH...
Savant Systems LLC held their 2020 Integrator Summit this year in conjunction with the International Builder Show in Las Vegas, NV on January 20-23. At that event, the company unveiled a large array of new products and new strategic partnerships, showing they intend to retain their innovative edge that has attracted so many integrator fans.
The U.S. International Trade Commission has announced that it is launching a patent investigation into various speaker and controller products offered by Alphabet Inc.’s Google brand. This investigation initiation is the result of a formal complaint made by Sonos, Inc. who makes similar products that compete with Google, and claims the tech giant stole their technology.
Sonos, Inc. this week reported a strong first quarter for their 2020 fiscal year. In fact, the company says it had a record quarter with strong revenue and profit gains.
I received a tip from a tech supplier here in the U.S. that the Coronavirus epidemic impacting China is a big problem getting bigger every day…and that our industry needs to think about – and prepare for – the impact on our supply chain. This week, Strata-gee surveyed several brands to learn their status on product supply…and what their perspective was on the near-term future impact of this epidemic taking place in China.
MSE Audio will launch the SoundTube STNet Soundbar at ISE 2020 in Amsterdam next month, running from February 11-14. This innovative soundbar solution is enabled for IP-based PoE for really convenient hookup.
Racepoint Energy, sister company of Savant Systems LLC, announced this week that it has acquired innovative residential lighting control provider NOON Home. Based in Campbell, CA, NOON offers an impressive array of intuitive lighting and intelligent control solutions.
Melrose Industries plc, the British turnaround specialist who acquires underperforming companies to improve their operations and management for resale, is now actively considering selling off the bulk of Nortek in a deal that could be worth $3 billion, according to reports from Bloomberg News and the Financial Times. If they actually execute this sale, it will be a relatively early exit from their ownership of Nortek which they purchased in 2016 for $2.8 billion.
This Friday, Sonos CEO Patrick Spence will testify before a Congressional committee (the House antitrust subcommittee) that is investigating the issue of competition in digital markets. Or, I should say, they are investigating whether the tech giants – Google, Amazon, Apple, Facebook, etc. – are engaging in anti-competitive activities in violation of the law. The Sonos CEO is likely to complain that Google is in fact anti-competitive. Spence’s appearance takes place literally just days after it has filed a major patent infringement lawsuit against Google – alleging that the tech giant stole its proprietary technology…making them a victim.
Bose Corp. announced earlier today that it will close a total of 119 Bose retail stores as a response to changing retail purchasing trends. The locations to be closed represents their entire retail footprint in North America, Europe, Japan, and Australia.
Universal Remote Control, Inc. (URC) has had a round of layoffs heading into the holidays. Taking place last week, the remote control giant has made cuts to its team that represent approximately 6% of their total workforce.
