The Wall Street Journal (WSJ) reported Tuesday that private equity powerhouse Kohlberg Kravis Roberts & Co. L.P. (KKR) has invested $90 million for a 35% stake in Savant Systems, LLC (Savant). While this is a minority stake, KKR is obviously bullish on the home automation supplier making what the WSJ says is an “eight-figure bet” that places a $215 million valuation on the home automation supplier.
Strategy
Atmos Atmosphere Expands with New Speakers from Triad Speakers & Atlantic Technology
One of the bigger stories in our industry is Dolby Labs introduction of a new surround sound system they call Dolby Atmos. Launched at CE Week in New York City this past June, Atmos has already attracted a number of predominantly electronics manufacturers supporting the system in their latest models. Now the selection of Atmos products expands with new product introductions by both Triad Speakers and Atlantic Technology.
See the new Atmos speakers from Triad and Atlantic Technology, two specialty companies… [Read more…] about Atmos Atmosphere Expands with New Speakers from Triad Speakers & Atlantic Technology
Another OLED Breakthrough? Japanese Consortium Forms to Test New OLED Production Method
A Who’s Who collection of significant panel and display manufacturers in Japan says they will collectively invest ¥20 billion ($193 million) into a test production line for OLED panels using a new manufacturing process that promises to move the industry closer to mass production of what many feel is the next-generation video technology. If all goes well, the consortium will be mass-producing large quantities of relatively inexpensive OLED panels by 2018.
Learn more about this significant effort to push OLED technology forward… [Read more…] about Another OLED Breakthrough? Japanese Consortium Forms to Test New OLED Production Method
Bodley Exits PPC to Start a Company Selling What? Why PPC, Of Course
When Belden bought PPC at the end of 2012, Eric Bodley thought this was going to be great news for both PPC and its Perfect Path line, where since 2009 he had led the charge in establishing the cable and satellite connector company’s locking HDMI connectors into the custom integration channel. And while he would argue that this acquisition by Belden was, in fact, a good thing for PPC, he soon came to realize that there was a challenge for him that was difficult to address.
That realization led Bodley to leave Belden/PPC and start a new company – to sell PPC… [Read more…] about Bodley Exits PPC to Start a Company Selling What? Why PPC, Of Course
Wait Till You See What’s Coming, Core Brands VP Tells Us
Last week, Strata-gee was the first in the industry to report the financial second quarter results for Nortek, Inc. and while the overall news had many positive points – the results for the now-separately reported AV group was quite negative, driving the overall company into a net loss of $46.2 million. Our story hit pretty big, and drew a lot of “eyeballs” from around the industry.
One set of eyeballs belonged to a VP for Core Brands – who reached out to us… [Read more…] about Wait Till You See What’s Coming, Core Brands VP Tells Us
Needing Cash, Sharp Will Sell Land Under Major Factory
Sharp Corp. is said to be in the process of selling the land under one of its major factories in Osaka, Japan, in a bid to raise cash. The transaction, reported by the Nikkei, is said to be happening as early as the current fiscal year.
But that’s not all the company is selling… [Read more…] about Needing Cash, Sharp Will Sell Land Under Major Factory
Dazed and Confused About Hi-Res Audio? Here’s Help…
GUEST POST
(PHOTO: Len Schneider)
Quick: What’s the most misused term in audio next to “subwoofer”?
You, yeah, you in the back there – did you say “hi-res”?
No more calls, folks, we have a winner!
[Read more…] about Dazed and Confused About Hi-Res Audio? Here’s Help…
Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out
Sean Burke, Head of Technology Solutions Group is Leaving Company
Nortek Inc. released yesterday the financial results for their fiscal second quarter and first half showing a solid overall sales gain of 13.9% to $718.6 million, up from $630.7 million in the same quarter last year. Sales increased at a more moderate pace for the first half, coming in at $1.266 billion or 10.1% higher than the $1.149 booked last year.
But in a bit of a surprise, the company chose to break out the results of their AV division separately – clearly exposing what many had suspected for a couple of years now – this division is in serious trouble. Even more surprising, in a filing with the SEC, the company revealed that Sean Burke, Group President of the Technology Solutions Group is leaving the company “to pursue other interests.”
See more on just what Nortek’s latest financial results show… [Read more…] about Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out
Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join
In a telephone interview today, new Thiel Audio CEO John Wittman told us that the company “struck a chord with me personally,” virtually compelling him to take over as CEO after the owners’ invited him to look at the company last winter. Over the course of an interview that went on for more than a hour, Wittman candidly shared his thoughts and perspectives in an enthusiastic and – to the degree he felt appropriate – open manner.
See what Wittman had to say about where Thiel is at…and where it’s going… [Read more…] about Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join
Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
Report Says Sharp Plans to Withdraw from Consumer Electronics & Solar Businesses in Europe
In a new report out of Japan, the Nikkei is forecasting that Sharp Corp. will book a net loss of around ¥2 billion ($19.6 million) for their fiscal first quarter (April – June) this year. The report further says that the company plans to exit both the consumer electronics and solar panel businesses in Europe in order to refocus their efforts on other markets.
