Le Holdings Co. Ltd. (LeEco), a Chinese company with unusual multi-business aspirations, announced this week that they had acquired Vizio, a U.S. manufacturer of affordable televisions, in a deal worth $2 billion. The deal will serve as LeEco’s entry into the U.S. market with its unusual mix of products.
Manufacturers
With BluOS, is Lenbrook the Apple of High-End Distributed AV?
Company Expands BluOS into NAD Line, Expanding Its Options
Back in the Fall of 2013, we told you about the birth of a new brand called Bluesound – a new networkable, high-quality wired and wireless multiroom music system. Almost simultaneously, and in response to the obvious success of Sonos we suspect, new systems from Bose, D&M Holdings (HEOS), and Lenbrook were all introduced. But Lenbook officials maintained that their system had an advantage over most of the other systems – they had created their own operating system called BluOS.
And now BluOS is expanding in very interesting ways… [Read more…] about With BluOS, is Lenbrook the Apple of High-End Distributed AV?
Look Out Nortek, Here Come the Lawyers
Acquirer Melrose Offers a Peek at Its Plans
The ink is barely dry on their agreement to be acquired by Britain’s Melrose Industries PLC, and already Nortek Inc. finds themselves the subject of multiple investigations by several major law firms who have publicly notified shareholders this deal may not be a good one for them. It is not clear if these law firms intend to take action yet, but if so, it could be a complicating factor in the transaction.
See who is stepping up to investigate Nortek… [Read more…] about Look Out Nortek, Here Come the Lawyers
AVAD Sold to Private Equity Company
BREAKING NEWS
Industry Veteran Tom Jacoby is AVAD’s New CEO
News comes this 4th of July holiday week that Ingram Micro, itself just recently acquired by a Chinese shipping company, has sold off AVAD, LLC and AVAD Canada Ltd., to Kingswood Capital Management, a private equity company. In an announcement from Kingswood, the company says it has brought in a new upper management team – including a new CEO, industry veteran Tom Jacoby.
See more on the sale of AVAD to private equity… [Read more…] about AVAD Sold to Private Equity Company
Russound to Get Serious about Commercial at CEDIA
Company Will Premiere a New 70-Volt Line of Commercial Products
They’ve been hinting about it for months, now Russound makes it official, they will launch an all-new line of 70-volt products targeted for the light commercial market at the upcoming CEDIA Expo in Dallas in September. Although the company had no specific model/feature information for the press at this time, the news is noteworthy nonetheless as the company is clearly expanding into more commercial-appropriate products this year.
See more on this announcement from Russound… [Read more…] about Russound to Get Serious about Commercial at CEDIA
LCD Kingpin Sharp, Under New Management, Pursues OLED
Sharp to Cut Another 7,000 Employees
Big changes are coming to Sharp, Corp. in the wake of their acquisition by Hon Hai Precision Industry Co – better known as Foxconn. News out of Japan notes that the deal between Sharp and Foxconn officially closes at the end of this month. According to both parties, the acquisition is proceeding smoothly and is fully expected to close on time.
But Foxconn has big plans for big changes at Sharp… [Read more…] about LCD Kingpin Sharp, Under New Management, Pursues OLED
Samsung’s Head is in the Clouds; Acquires Joyent
With Samsung’s Backing, Joyent is Poised to Become Major ‘Cloud’ Player
Samsung announced late Wednesday that it has acquired Joyent, a relatively new start-up company that offers cloud computing services, according to a report by Recode. The specifics of the deal were not disclosed, but Joyent management has said it will be joining the Samsung management team.
Why has Samsung acquired a services company? See our thoughts below… [Read more…] about Samsung’s Head is in the Clouds; Acquires Joyent
Control4 Rolls Out New ‘Smart Skills’ Training
Control4 Corporation announced Wednesday that they are rolling out an interesting new augmentation to their overall training efforts – short e-learning modules called Smart Skills. Smart Skills are short videos made available to certified Control4 dealers that offer focused training on one specific topic.
See more on Control4’s new Smart Skills training… [Read more…] about Control4 Rolls Out New ‘Smart Skills’ Training
Control4 Names New SVP of Worldwide Sales
Bryce Judd Joins Company from Division of Nokia
Control4 Corporation announced yesterday that it has appointed Bryce Judd as its new Senior Vice President of Worldwide Sales. Judd assumes the role vacated by Jim Arnold who is said to be retiring after serving in the same position since 2007. The company says that Arnold will stay on through the end of the year on an “advisory basis.”
See more on Bryce Judd, new head of Control4 sales… [Read more…] about Control4 Names New SVP of Worldwide Sales
Department of Justice Says It Will Not Charge Nortek in Bribery Scandal
SEC Forces Nortek to Forfeit Profits Resulting from the Bribe
The Department of Justice (D.O.J.) has notified Nortek, Inc. that it has closed its investigation into a corporate bribery scandal involving the company’s operations in China and will take no further actions, according to a report by Reuters. Nortek, parent company of Core Brands – a holding company of several custom integration brands – had revealed the existence an internal investigation into the matter by the company to investors several quarters ago. At the same time, Nortek reported the matter to the authorities, noting that they would fully cooperate with any government investigation.
Nortek “will not be charged because the U.S. [company] had turned themselves in,” Reuters noted. Nortek stock was up 5.19% in late afternoon trading on the news.
