Strategy in TECH...
Snap One Holdings Corp. (NASDAQ: SNPO) announced the results of their fiscal second quarter, the period that ended June 25, 2021. This is the first official report to investors for the newly public company, and Snap One executives were excited to talk about all the positive milestones they achieved in the quarter – first and foremost, launching a successful public offering. Aside from a technical glitch in their conference call with analysts, it was all good news from the company.
What a crazy couple of weeks it has been for exhibitors of CEDIA Expo 2021, and also for potential attendees who watched a slow-motion train wreck unfold right in front of their eyes. It was almost exactly two weeks ago – on August 10th – when Savant CEO Robert Madonna suddenly announced that Savant was pulling out of CEDIA, due to concerns over the surging infections from the Delta variant of COVID-19.
Little did we know then that this was the trickle before the flood…
Moody’s Investors Service, one of the top global credit and bond rating agencies, announced last week that it has raised the credit rating on Wirepath LLC (dba Snap One) based on its successful completion of an initial public offering of shares of the company’s stock. This is good news for Snap One and potential investors.
Snap One Holdings Corp (Snap One) – formerly SnapAV – has filed an S-1 registration with the Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO) of its stock on a public exchange. In this S-1 filing, we learn much about the company’s current position and what its plan is to grow the operation to even loftier heights.
Recently, in a special Zoom presentation for Strata-gee by SnapAV executives Jeff Hindman (Chief Revenue Officer) and Kordon Vaughn (VP Marketing), I was about to learn about the company’s new brand strategy going forward. Ever since SnapAV acquired their largest division, Control4, there has been much speculation about how to address the market with two strong, well-known brands. I joked, “So what’s it going to be…ControlAV or Snap4?
It turns out I wasn’t that far off, as the executives shared with me that they would be rebranding the organization as Snap One.
SnapAV announced today (Tuesday) that its latest rendition of its automation brand Control4’s OS 3 operating software – OS 3.2.2 – finally introduces full support of the company’s popular OvrC remote management platform. No doubt part of their ongoing integration strategy since they first acquired Control4, this news is sure to make life just a little easier for their Control4 dealers who support OvrC.
SnapAV announced today that it will acquire network service agency Access Networks in a deal expected to close later this month. Terms of the deal were not disclosed. The company says this acquisition “will broaden SnapAV’s networking portfolio with newer products and managed services including system design, configuration, monitoring, and support.”
SnapAV announced today that they have acquired HCA Distributing, expanding their footprint of local distribution outlets around the country. HCA was founded in Denver, CO and eventually expanded to a second outlet in Salt Lake City, UT. The announcement of the acquisition was made by Trevor Hansen, SnapAV’s manager of their Volutone business unit.
SnapAV announced this week that they are expanding their distribution line card by adding Ring products to their online portal, as well as in their Local Pro Stores in the U.S. The company will distribute not only the regular Ring line, but also their X Line, which is reserved for professional installers only.
Moody’s Investors Service is one of the world’s largest credit rating services that offers ratings used by many investors who target debt investing, such as buying corporate bonds or equity investors. Moody’s rating can literally impact – positively or negatively – the interest or coupon rate companies offer their debt at – and therefore can be critical. Recently, Moody’s published a credit rating decision on Wirepath LLC – the company behind SnapAV.
How did Moody’s rate SnapAV? Read on…
