Nortek, Inc. reported their financial results from the first quarter of fiscal 2013 late last week. The results were mixed as the company deals with a struggling economy and a difficult internal restructuring that is impacting costs now, with any resulting benefits to be realized still down the road. But for the first time in several quarters, the company’s Technology Solutions Segment (TECH) actually offered a positive contribution with growth in both sales and profits offsetting losses in other divisions. But TECH’s success was largely due to a recent acquisition in the security business.
Michael J. Clarke
Nortek, Inc. announced today that it has acquired 2GIG Technologies, Inc. from APX Group, Inc. 2GIG is a designer and supplier of residential security and home automation systems. A privately held company, 2GIG will expand Nortek’s portfolio of installed home systems products.
See what 2GIG brings to the table and how much Nortek paid to add the brand to its portfolio… [Read more…] about Nortek Acquires 2GIG Technologies
Nortek, Inc. announced today that it has appointed Kris Holla Chief Sales Officer of Data Center Products. This position, newly created by the company, involves leading the charge in increasing Nortek’s market share in “mission critical data center and server markets.”