Strategy in TECH...
Residential construction, known as housing starts, dropped in March by a surprising double-digit percentage. Most industry analysts believe that the slowdown is due to stubborn inflation readings motivating the Fed to keep interest rates high which is affecting mortgage rates and home affordability.
After solid gains in February raised hopes in the segment, the March numbers were a chilling splash of reality as home inventory is low and mortgage rates are high.
Frank Sterns, a well-known and highly regarded (some would say renowned) industry executive, has been retained to consult on custom integration matters with Nationwide Marketing Group. Clearly a sign of just how serious the large diversified Nationwide organization is about targeting custom integration, Sterns brings a wealth of Grade A experience as a leader in the custom integration space.
This morning we learned that Snap One Holdings, Corp. (Nasdaq: SNPO) has been acquired by large security provider Resideo Technologies, Inc. (NYSE: REZI) and private equity company Clayton, Dubilier & Rice (CD&R) in a $1.4 billion deal. If you aren’t familiar with the Resideo name, you may know them by ADI, their distribution wing.
The deal is expected to close in the second half of 2024.
When it comes to a potentially ground-breaking remote control, good things come to those who wait. But the wait is over and AVA, Inc. has announced it is now shipping its remarkable Cinema Remote, an innovative new remote control design first previewed to dealers at CEDIA Expo 2023. They may have had to wait longer than anticipated due to a manufacturing glitch, but now that is resolved and the product is flowing to the field.
Chris Kane, long-time key executive at AudioControl has been promoted to Vice President of North American Residential Sales for AVPro Global. Sioux Falls, SD-based AVPro Global is a rapidly expanding manufacturer and distributor of top custom integration brands, such as AudioControl, AVPro Edge, Bullet Train, Murideo, and Then Audio.
Change continues to come fast at Masimo Corporation as well-known and respected Brand President and General Manager Joel Sietsema announced on Tuesday that he was no longer with Masimo Consumer, the audio division of the company. This announcement, coming as it did without warning or explanation, raised a lot of eyebrows around the industry – with many reaching out to Strata-gee seeking context.
AVPro Global Holdings, LLC, parent company to growing technology brands such as AVPro Edge, AudioControl Pro, Bullet Train, Murideo, and Then Audio, announced today that it has named well-known industry executive Mike “Sparky” Detmer as its Chief Operating Officer. Detmar is well known to many in custom integration for his long stint at Niles Audio, part of Nortek, and once a pillar brand for many integrators across the country.
Now Detmer joins AVPro Global to help them scale their operations in support of their fast-growing residential and commercial integrator solutions business.
A new high-end, high-performance, direct-to-consumer audio company called Austin AudioWorks is officially launching the brand during the upcoming AXPONA show at the Schaumberg Convention Center in Chicago, IL from April 12-14. The company says its products “are very different from the mainstream” and show attendees will want to stop by and audition the new line in person at the show.
One business day after Masimo Corp. [Nasdaq: MASI] announced plans for a spin-off of its Consumer division, the business unit formed by the acquisition of Sound United, activist investor Politan Capital Management and its CIO Quentin Koffey – a current Masimo Director – announced the nomination of two more independent director candidates for the Board of Directors. In a statement accompanying the announcement, Koffey takes the gloves off alleging Board dysfunction, uncooperative management, and says Kiani’s desire for control “is troubling.”
Pop a fresh bowl of popcorn and settle into a comfortable chair…things are getting pretty interesting in this story of escalating boardroom and management drama.
Leading consumer speaker brand Klipsch announced this week that it is partnering with Marvel Animation’s X-Men ’97 as the official home speakers for the series which launched on Disney+ Wednesday. If you have kids, you likely know the popularity of the X-Men franchise, which with this new series looks to trade on that popularity to the benefit of both partners.
