Strategy in TECH...
Recode is reporting that Amazon is testing an installation service for smart home products in several key test markets – in direct competition with Best Buy’s Geek Squad. While these two giants battle over the rights to install smart home solutions into the home, where does this leave the independent integrator?
Less than a week after we reported that B&W Group President Doug Henderson had been summarily dismissed from the company he has been a key executive at for more than a decade, the rumor mill has fired up again with word that Classé has been closed down. Classé, like B&W Loudspeakers, is owned and distributed by B&W Group Ltd., a company recently acquired by EVA Automation. Multiple sources are suggesting that EVA owner Gideon Yu has decided to cease operations at the high end manufacturer of audio electronics.
Shortly after we published our BREAKING NEWS report on the Bowers & Wilkins dismissal of President Doug Henderson, we obtained a copy of an email that was apparently sent by the company to all B&W dealers explaining the situation. We’d like to be able to say this note answered all questions surrounding the upheaval their actions caused, but it raised as many questions as it answered.
We have learned that Doug Henderson, President of B&W Group North America, was dismissed from the company earlier this week. There has been no official announcement from the company and B&W executives and employees have been unusually tight-lipped about the matter.
We learned this week that Thiel Audio (Thiel) has had another significant round of layoffs, including CEO Tom Malatesta, Chief Revenue Officer Stuart Levine, Director of Music Industry Relations Mark Mason (no relation to engineer Mark Mason who left much earlier), as well as two other lower level staff – who have all been let go within the last six-to-eight weeks. Furthermore, Chief Brand Officer Rebecca Abrahams, who led the launch of their Aurora live music performance and streaming studio, left the company in January of this year. No reason was given for any these separations and, true to form, Thiel has made no official public announcement regarding the dismissals.
In news out of Korea, we learn that Samsung Display is planning to build the world’s largest OLED manufacturing facility in a bid to hold off Chinese competition in the increasingly popular technology. Samsung’s board of directors are expected to meet this month to approve the plans and the investment.
Crestron announced today that it is dramatically deepening its partnership with Sonos that was first revealed at last Fall’s CEDIA show. That partnership, which Strata-gee was the first to break the story on ahead of the 2016 CEDIA show, is now growing even stronger as Crestron is making the full line of Sonos products available directly to Crestron Technology Professionals through their normal purchasing system. Crestron dealers can add as much Sonos product to their Crestron orders as they’d like…starting today.
France’s Legrand announced today it has signed an agreement to acquire Milestone AV Technologies in a deal valued at $950 million. The deal is another example of continued industry consolidation, although in this case, it was largely a play by Legrand for Milestone’s predominantly commercial business rather than the residential portfolio.
SnapAV announced today that General Atlantic, its private equity partner, has sold its ownership interest in the company to San Francisco-based Hellman and Friedman, another private equity group. The move, while unexpected, is not unusual in the world of private equity – especially in the case where a portfolio company transitions stages of growth that move it beyond the the investment strategy of the PE partner as compared to when the investment was initially made.
In February, we reported that George Leslie Manlove was convicted on approximately 170 out of a total of 200 Federal felony counts stemming from his tenure as CEO of the now-defunct Vann’s Electronics & Appliances in Montana. A few days ago, Manlove learned his fate in the form of a sentence from U.S. District Court Chief Judge Dana Christensen, and it wasn’t a pretty picture. Manlove has been ordered to serve a sentence of more than 5 years in a Federal Penitentiary.
