Strategy in TECH...
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.
Austin AudioWorks (AAW), a startup audio brand that was to have its launch at this week’s AXPONA show in Chicago, has announced that due to illness striking one [or more] “family member[s]” it is forced to cancel its participation in the event. Expressing regret for this unforeseen development, the company will announce a revised rollout plan as soon as is practicable.
Luxman announced this week that it is launching its very first network transport that provides for the playback of a wide range of digital file-based and streaming audio sources in a quality component system. This new streamer, the NT-07, embraces the high-end engineering and componentry that is typical of the Luxman brand, helping audiophiles to enjoy a higher grade of musical performance in their home.
Last Friday, Apple, Inc. filed a massive appeal with the U.S. Appeals Court for the Federal Circuit asking the judges to overturn the ruling of the United States International Trade Commission (ITC) which sided with Masimo and ordered a ban on sales of certain models of the Apple Watch. The filing runs an impressive 916 pages long and cites multiple elements of the ITC ruling, telling the Federal Court that the commission “…both exceeded its authority and issued a series of flawed substantive rulings.”
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.
Masimo Corporation (Nasdaq: MASI) announced on Monday that it could confirm that activist investment group Politan Capital Management – whose founder and Chief Investment Officer is Quentin Koffey – has provided it with notice of its intent to nominate two candidates to stand for election to the company’s Board of Directors at its upcoming 2024 Annual Meeting. This action by Politan, management says, “run[s] counter to the stockholders’ best interests…”
Oh-oh…the knives are coming out…
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.
Ellipsys Commercial Technology Group, the new dealer buying group for commercial integrators that is part of the Nationwide Marketing Group portfolio, announced this week it has achieved solid progress in its establishment as a completely new buying group. The company says it believes it is “off to a fast start in 2024,” with more evidence of its progress showing up every day.
