Strategy in TECH...
SnapAV announced this afternoon that they have acquired Custom Plus Distributing, a regional distributor that started in the Pacific Northwest and expanded into California. This is the fourth acquisition by the company who seeks to grow their physical distribution footprint to better serve their customers in local markets.
Credit rating agency Moody’s Investors Service has downgraded the credit rating of Wirepath LLC (corporate name of SnapAV) from B2 to B3 in the wake of their announced acquisition of Control4. The primary reason for the downgrade is due to the fact that SnapAV will be forced to increase their debt by an additional $390 million to a new high of $683 million in order to close on this acquisition.
On March 28th CEDIA held a grand opening gala to celebrate their brand new $14 million glass and stone castle in Fishers, IN with about 250 of their closest friends. Depending on your viewpoint, this new facility is either a shining shrine to the strength of the custom integration tech association – or it is a monument to the monumental arrogance and ego of an association that is drifting further away from the very community it purports to serve.
But what many of these guests to the opening celebrations didn’t know was that, as they sipped champagne and oohed an ahhhd over the new gorgeous digs, there was yet another small member flare-up taking place in the background…with significant members expressing strong dissent on yet another Association initiative.
Control4 has recognized a new class of 67 dealers whose level of business with the brand has earned them the designation as a Pinnacle status partner. Pinnacle status, Control4 says, is a lifetime achievement that indicates their importance as a highly supportive partner.
James Loudspeaker, the innovative specialty manufacturer of custom-created loudspeakers targeted at the residential and commercial custom integration channel, announced that they will create, build, and stock a new soundbar product designed to be perfectly sized for increasingly popular larger TVs up to 75-inches. By keeping this new product in stock, integrators will have quick access to a more affordable pre-built solution…a win-win for the integrator and for their client.
The Custom Electronic Design & Installation Association (CEDIA), held their annual member’s webinar where association staff and board representatives review the “State of the Association” for those members tuning in to the webcast. The polished, prepared presentation offered an upbeat assessment on the organization’s accomplishments in 2018. But, as you might suspect, I uncovered a couple of interesting issues in which I’m seeking some follow-up clarification.
The NY/NJ Tech Summit rolled in to the Big Apple last week, almost exactly one year after its first iteration, which took place last year in the MetLife Stadium…a really unique venue. This year, I looked forward to it with great anticipation, interested to see if the Summit would begin to gain traction and what changes would take place as a result of the show being acquired by CEDIA.
As I mentioned in my CEDIA wrap-up post recently, Savant surprised me with an entirely new category they call microgrid. Created in partnership with sister company Racepoint Energy, a microgrid is sort of your own energy substation for your residential (or commercial) clients – giving them much greater control over their energy systems.
And microgrid brings integrators a new significant revenue and profit opportunity addressing a category well beyond traditional “power protection.”
Vanco has always seemed to be that reliable supplier in the background providing a steady stream of solutions like cables, connectors, and other accessories – not particularly glitzy or exciting, but steady and there. Well all that is about to change I learned when I spoke with Mark Corbin, Vanco’s recently appointed President at CEDIA Expo18 earlier this month. The company has begun a big initiative to become a major player in a category near and dear to my heart…audio.
Control4 surprised everyone about a month ago when they suddenly announced the launch of no less than 140 Control4 Certified Showrooms in partnership with certain dealers around the world, including the U.S., Canada, UK, China, and Australia. These showrooms were said to meet “elevated standards” and were positioned with dealers who were “experts in WOW-ing’ homeowners through interactive storytelling, visually-stunning displays, and hands-on demonstrations.”
At the recent launch of these showrooms on May 31, 2018, in an event called C4Yourself, I had the opportunity to visit one of two Certified Showrooms in New Jersey and to meet with Larry Bennett, Control4’s Managing Director of Global Programs. Bennett is the Control4 executive in charge of their global Certified Showroom program.
