There has been a flurry of activity in the Savant ecosphere lately, much of it causing a buzz in the industry. Over the last few weeks, I’ve had several integrators reaching out to let me know about some of these changes. Not all felt they were positive and many questioned the motivations behind the moves. Accordingly, I reached out to Savant to see if I could get some insight into just what is going on. The company responded by making President JC Murphy available to update me on a few of their recent moves.
Manufacturers
Nice Announces ‘Pivotal Changes’ in N.A. Operations to Drive Growth
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.
See the changes Nice is making in North American Ops
[Read more…] about Nice Announces ‘Pivotal Changes’ in N.A. Operations to Drive GrowthAudioControl Residential Division Acquired by AVPro Global Holdings
BREAKING NEWS
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.
See more on the AudioControl acquisition by AVPro Global
[Read more…] about AudioControl Residential Division Acquired by AVPro Global HoldingsDenon Launches Two New 8K AVRs w/3D Audio for Small to Midsize Spaces
Ignoring the Masimo noise swirling around them, portfolio brand Denon launches two new audio video receivers (AVRs) with impressive technology targeted for small-to-midsize spaces, such as dens, family rooms, home offices, and the like. With support for 8K video and 3D audio, these new models offer an unusual blend of performance and features at a moderate price making them perfect for alternative smaller format spaces needing a more modest cinema implementation.
Learn more about these new Denon AVR models
[Read more…] about Denon Launches Two New 8K AVRs w/3D Audio for Small to Midsize Spaces‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in Jobs
In a letter to employees earlier this month, VOXX International Corp. (Nasdaq: VOXX) CEO Pat Lavelle painted a dark picture of the economic environment the company finds itself mired in, noting its significant sales declines and mounting losses. If you were a VOXX employee reading the opening phrases of this letter, I’m pretty certain a feeling of dread would sweep over you – sensing where this communication is heading.
And you would be right, as later in the correspondence, Lavelle reveals a plan to cut “more than 150 employees” along with a series of other steps to cut costs and lower overhead. And these cuts are on top of the job cuts the company has already implemented in 2022, as it tries again to right the ship.
See more on VOXX management’s missive to employees
[Read more…] about ‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in JobsJosh.ai Pivots to Control
OK, let me say upfront, I’m pretty sure the good folks at Josh.ai would take exception to the headline of this post. They might even have some harsh words for me. Most likely, they would argue they’ve always been about control. But in my view, they’ve been all about a subset of control – voice control (as well as AI or artificial intelligence).
This week, however, that all changed.
See how Josh.ai is pivoting to full control
[Read more…] about Josh.ai Pivots to ControlNew Audio Research Owner and CEO Seeks to Address Questions
This evening I received a press release from Valerio Cora, the new owner and Chief Executive Officer of Audio Research that seeks to address some concerns the company is apparently hearing from customers of the high-end, high-performance electronics brand. Interestingly, Cora says that the company will use the dba (doing business as) designation of Audio Research Corporation, while its legal new corporate name registered in Delaware is AR Tube Audio Corporation.
See more on this note from the Audio Research CEO
[Read more…] about New Audio Research Owner and CEO Seeks to Address QuestionsVoxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%
VOXX International Corporation (Voxx) (Nasdaq: VOXX) reported its financial results for the first quarter of fiscal year 2024 and the numbers were not pretty. The first quarter is the period ending on May 31, 2023, and overall net sales n the quarter dropped by -13.1%, with a net loss increase of 65%. The hardest hit segment was the company’s Premium Audio Company division – home of brands like Onkyo, Pioneer, Integra, Elite, and more – which saw sales collapse by -32%.
Learn more about Voxx Intl’s rough first quarter of fiscal 2024
[Read more…] about Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%Peter Wellikoff Appointed Managing Director at Atlantic Technology
Well-known and respected industry executive Peter Wellikoff has been appointed to the newly created position of Managing Director at Atlantic Technology. Wellikoff’s appointment was effective as of July 1st.
See more on this new role for Peter Wellikoff
[Read more…] about Peter Wellikoff Appointed Managing Director at Atlantic TechnologyNew Parasound CEO Believes They Can Do More With Less
A Strata-gee Exclusive Interview with CEO David Sheriff
In a Teams interview with new Parasound owner and CEO David Sheriff, with VP of Sales and Marketing Larry Bennett joining in occasionally, I learned more about the company’s seemingly dramatic new direction. This new direction is defined not so much by a changed product strategy, but rather by revisions the company plans to make in policies, programs, and dealer structure that looks to redefine its approach to the market.