Strategy in TECH...
Strata-gee broke the news to the industry on Tuesday that Savant had announced they were pulling out of CEDIA Expo 2021 due to the surging COVID Delta variant putting employees and attendees at risk. Today, Snap One, another major CEDIA Expo exhibitor has made the same decision, pulling out of the event currently scheduled to launch in just about three weeks from now.
Savant Systems announced today that it has decided to pull out of the CEDIA Expo, scheduled for the beginning of September in Indianapolis, due to concerns surrounding health and safety. As the COVID “Delta” variant continues to fuel a new wave of infections around the country, many potential attendees are likely making the same calculation.
By now, you may have heard that Savant has acquired Racepoint Energy, LLC, which will now operate as Savant Power. In another post, I discuss this acquisition in a little more detail and interview Savant Power President Anna Demeo. Demeo is incredibly smart and because of this, it was one of my more challenging interviews – let’s just say you don’t want to take her on in a game of Scrabble. This is a big move by Savant and if you don’t look closely, you may miss the importance of what it potentially represents – a significant disruption of the power segment.
Last week, Savant Systems, Inc. announced that it had acquired Racepoint Energy, LLC, a provider of innovative power solutions. What many people did not know was that Racepoint Energy was another venture launched by Savant CEO Bob Madonna, and was originally intended to be a freestanding solution – primarily targeted for commercial, industrial, and utility markets.
But then the world changed and it made sense for Savant to bring it under their residential automation brand.
Nestled in the hills over the Nevada plains, not far from the bright lights of Las Vegas, Savant Systems partnered with design-led development firm Blue Heron and integrator Eagle Sentry to create what they call their West Coast Experience Center – otherwise known as a stunning residential home showcasing a million dollars worth of Savant technology (as well as a few technology partners). The ultra-modern home, clearly destined for an ultra-rich niche, featured a design that was – to my eyes – just stunning…and the installation is a true testament to Savant’s theory that installed AV should be “hidden in plain sight.”
At the end of January, Savant held their popular annual Integrator Summit – its 15th summit ever…but its first such summit held online as a virtual one. In a Zoom meeting with industry media following the summit, President J.C. Murphy recapped the event which is held privately with only Savant integrators in the room.
Savant had a lot to talk about.
Just last week I was an invited guest to an event that I wasn’t entirely sure would be all that exciting – yet another Zoom meeting in a year full of Zoom meetings. Or so I thought. My invitation came from industry powerhouse Savant, who wanted to host me on a virtual tour of their new Experience Center in Manhattan. Boy!…am I glad I agreed to participate….
In what constitutes just one more sign that the COVID-19 pandemic will continue to have a lasting impact on how we do business for the near-to-medium-term future, Savant has come up with a cool way to cleverly optimize the showroom experience in this new difficult environment. The company was in the process of building an all-new Savant Experience Center in New York City when the pandemic hit. Then, when construction was completed, company managers looked at each other and said, now what?
No question about it, Savant is on a roll. Just four months ago in May, the company surprised the industry by announcing their acquisition of GE Lighting, instantly transforming the company into one of the top lighting providers in the US. But, clearly, they weren’t done yet, as the company announced two new partnerships at CEDIA Expo Virtual – one with Robern, a luxury bathroom furnishings manufacturer…and the second with Devialet, a unique design-centric powered speaker maker out of Europe.
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.
