Strategy in TECH...
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.
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.
CES 2020, the big show, is about over (ending the day this was posted) and as usual there are a slew of announcements. It can be a little overwhelming with so much happening in Las Vegas, but there are some stories that flat out are just more important or interesting than others.
For many, many years the Consumer Electronics Show (CES) – an exposition hosted by the Consumer Technology Association (CTA) – was a huge part of the technology industry. In many ways, it was virtually the embodiment of tech – you HAD to go there to discover the latest products that were being shown to buyers so they could get their orders placed in time for the prime selling season starting in the fall of that year.
Sonos announced on Tuesday that it has filed a patent infringement lawsuit against tech powerhouse Google – by far their biggest…and potentially riskiest…action yet. And perhaps keeping Emerson’s quote in mind, Sonos took a double punch at the king, filing a lawsuit against Google in the District Court for the Central District of California…AND at the same time, filing a complaint with the United States International Trade Commission. This is the first time, Sonos has started a war on two fronts, suggesting to me that they are deadly serious in this effort.
As we hurtle headlong into the a new decade – the 2020s – it’s a good time to pause and take stock of some of the major events of our industry’s recent history by ranking the Top 10 Strata-gee stories of 2019 based on total page views. This ranking shows just what stories drew the most attention of Strata-gee’s eminently intelligent and inquisitive readers.
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.
If you saw my recent article on the Emerald Expositions’ leadership turmoil (See: More Leadership Turmoil Hits Emerald Expositions), in addition to covering the fact that their new CEO (just started in June) was leaving the company at the end of the year, I also provided some sobering key figures from their recent fiscal third quarter results report. I have done a deeper dive into their report, only to uncover even more troubling information.
Rumors abound for the last few days and now we learn it’s true, Frank Sterns, former Vice President of AV Specialty/Custom Integration for Sony, has left that position to join Sound United as Senior Vice President of Commercial Operations – Americas. This new role will begin on January 6, 2020.
