Strategy in TECH...
Well, another CEDIA Expo is in the books and we return to our daily duties and launch into a new Fall season full of promise…and concerns. What were the big stories of this year’s edition of Emerald’s (a public, for-profit company that owns the show) CEDIA Expo? Well, I’ve scanned several summations from others in the media and it almost seems like we attended different Expos. Here’s what I think they are…
OneVision, one of the original remote 24/7 service support providers for integrators, is now offering a new set of service options called Flex Support Packages designed to make it easier than ever for integrators of any size to get started with the company’s remote support service and recurring monthly revenue (RMR) options. A company started (and still run) BY integrators FOR integrators, OneVision continues to offer integrators smart support options that make it simple and profitable for them to get started.
Last week, Snap One Holdings Corp. (Nasdaq: SNPO) released its financial results for the second quarter of fiscal 2023, the 13-week period ending June 30, 2023. The company reported mixed results with a continuing sales decline but with a reduced net loss in the quarter.
On Monday, Snap One revealed that it had filed a lawsuit against two other well-known, if smaller, brands, alleging patent infringement and a range of illicit and unethical business practices that it claims violated existing contractual agreements. The defendants in this matter are Josh.ai and AVA.
The allegations, if true, are really quite surprising.
Nice North America, part of the globally significant Nice S.p.A. of Italy, announced this week that it has implemented what it calls pivotal changes within its North American operations (U.S. and Canada) that it believes will “further boost growth and innovation.” It is the first major structural change here in the U.S. since Italy’s Nice acquired Nortek Security and Control from Melrose PLC back in October 2021.
This morning, AVPro Global Holdings, Inc., a maker of a wide variety of audio/video gear and services, announced it has acquired the residential division of AudioControl from AAMP Global. Like King Solomon, the move “splits the baby” in half along its logical business lines with AVPro Global taking over AudioControl’s residential division, while AAMP Global retains its mobile electronics business.
Emerald Expositions, owner of the CEDIA Expo taking place this year in Denver from September 6-9, 2023, announced it is bringing back the Launchpad (formerly known as Innovation Alley) to the Expo floor. The Launchpad highlights several new and emerging companies that take advantage of the event to launch new technologies to the industry.
These are turbulent times at Masimo Corp. [NASDAQ: MASI] as the company continues its pitched battles against Apple Inc. for patent infringement and against activist investment group Politan Capital Management which seeks two Board seats for new oversight at the company. Mailings to MASI investors began in early May and continue to increase in frequency – and intensity – in the days leading up to the company’s Annual Meeting of Stockholders on June 26, 2023.
What’s it all about? Largely, it is about Masimo’s $1 billion acquisition of Sound United (now Masimo Consumer) which caused the company’s market value to drop over $5 billion the day after the acquisition was announced. It appeared to be a clear repudiation of the management strategy by Masimo investors.
Last week, in a national online Teams conference with dealers, Parasound CEO David Sheriff presented his plans for the company’s future. Tightly scripted, the CEO spoke with a firm resolve in a no-nonsense manner. It was clear that the initiatives he announced that day were not topics for more discussion or debate, but rather what is going to happen. And he made it clear that some dealers viewing the online presentation that day will likely not agree with these plans, and that’s fine.
“Let’s talk about parting ways,” Sheriff said, looking directly into the camera without blinking.
A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”
