Strategy in TECH...
On Wednesday, we learned that Savant Systems Inc. (Savant), has acquired the lighting business from none other than the mighty GE. Terms of the transaction were not released, but the Wall Street Journal reports that “the transaction valued the unit at around $250 million, according to a person familiar with the matter.” GE has been a major lighting provider for over a hundred years.
New research shows that while a majority of internet users own some type of smart device, almost no one owns a smart appliance – even though many manufacturers like Samsung have been pushing the category for a couple of years now. If consumers believe in “smart” technology, what’s going on with smart appliances??
Hitachi announced this week that it will invest ¥100 billion ($915 million) building a state-of-the-art research center in the United States to develop Internet of Things (IoT) products and technologies. A significant commitment by the company, with the project expected to take over three years to complete – the facility will be located in Santa Clara, California.
In news that is likely yet another indicator of the depths of the struggles of the consumer electronics industry, M. Rothman & Company, Inc. – a large consumer electronics distributor based in Ramsey, New Jersey and a one-time powerhouse supplier of a wide variety of electronics and appliances for the entire New York Metropolitan marketplace, has been sold to Z. Reiss & Associates. While rumors have been circulating about Rothman for some weeks – we have only now been able to confirm the company is in fact been sold to another New York-based distributor. [Read more…] about After 62 Years, New Jersey’s M. Rothman & Company Sold to Z. Reiss
