In a letter to the media early Tuesday evening, Richard Stoerger announced the likely impending closure of Audio Design Associates (ADA), a company that was a founding member of CEDIA and a significant driving force in the early days of the “CEDIA channel.” The letter itself never explicitly explains the reasons for the possible closure, only offering vague allusions to: difficulty to “defeat the noise generated on a public level”… and … that they “just ran out of time and money”… and … a failure to “reckon with” how “difficult and expensive” it is to tell one’s story.
News
James Loudspeaker Terminates Reps as Integration into Sonance Progresses
Early last week, a holiday week, sources reached out to relay the news that multiple manufacturer sales representatives were being terminated by James Loudspeaker. Happy Thanksgiving…you’re fired. In chats, I heard of the pain that some those reps felt – for while getting terminated is never a happy circumstance, getting terminated during holidays seems particularly poignant.
James Loudspeaker’s CEO & Sonance’s CSO speak to what is going on…
[Read more…] about James Loudspeaker Terminates Reps as Integration into Sonance ProgressesConsumer Confidence Drops for the 4th Straight Month in-a-Row
The Conference Board, in conjunction with Nielsen, announced on Tuesday that consumer confidence, a widely watched economic indicator, fell in November for the fourth straight month in-a-row. Consumers, it seems, are concerned about the current business climate and employment outlook. Even so, the level remains historically high and should not provide too much of a damper on current holiday spending by consumers.
Read more on consumer confidence…
[Read more…] about Consumer Confidence Drops for the 4th Straight Month in-a-RowOct. Housing Data is Split: Home Construction UP, Home Sales DOWN
In new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the readings appear split with housing starts showing increases while new home sales declined. Housing, a prime component of the overall U.S. GDP has been in a bit of a swell over the last couple of months, driven largely by low interest rates stimulating demand for homes.
See more on the latest housing data…
[Read more…] about Oct. Housing Data is Split: Home Construction UP, Home Sales DOWNSonos Announces Record Fiscal 2019 Results; Acquires Snips
Sonos announced this week that it has acquired French AI voice control software maker Snips in a deal valued at $37.5 million. The company also released their Fiscal 2019 results in a letter to investors denoting a record year for the company – its first as a publicly traded one.
See more on Sonos’ new announcements…
[Read more…] about Sonos Announces Record Fiscal 2019 Results; Acquires SnipsLast Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition Deal
For a few weeks now, I’ve been chasing a rumor that both sides of the failed Sound United acquisition of Onkyo’s branded A/V business were in the throes of a major reorganization. The rumors, it seems, were true – starting with Onkyo’s announced reorganization last week…and now word that Sound United is also implementing changes to its management structure.
See what changes Sound United is making…
[Read more…] about Last Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition DealNo Josh-ing, AudioControl & Josh.ai Partner for a Better User and Integrator Experience
AudioControl and Josh.ai announced last week that they were partnering with an integration that will allow integrators to offer their clients a better voice-enabled home entertainment control experience. A perfect blend of the high-quality electronics from AudioControl, coupled with the natural language and privacy protecting voice automation technology of Josh.ai, means clients can simply say their commands to their system and have their system respond in new powerful ways.
See more on this new AudioControl and Josh.ai integration…
[Read more…] about No Josh-ing, AudioControl & Josh.ai Partner for a Better User and Integrator ExperienceOnkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%
Also: Consolidating Facilities & Moving Headquarters
It appears that the other shoe is dropping in the wake of the failed acquisition of Onkyo Corporation’s branded A/V division by Sound United last month, as the company now says it will reduce its overhead by cutting jobs. This appears to be the first step in a major reorganization of the company, as it seeks to right-size the organization for the industry’s new, smaller, and more competitive environment in which electronics manufacturers find themselves.
See more on Onkyo’s restructuring…
[Read more…] about Onkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%In Wake of Its Acquisition by Control4, Amina Splits Off from Triad Partnership to Go It Alone
UK based Amina Technologies, manufacturer of so called “invisible speakers,” had for years been in a partnership with Triad who distributed their line. Yet in the wake of Triad’s acquisition by Control4, Amina ultimately chose to split off and go it alone – launching their independent sales effort at CEDIA Expo 2019.
See more on Amina’s line of invisible speakers…
[Read more…] about In Wake of Its Acquisition by Control4, Amina Splits Off from Triad Partnership to Go It AlonePrivate Equity Giant Apollo Global Management Acquires Tech Data in $5.4B Buyout
Tech Data, one of the largest technology distributors in the U.S. and globally, has been acquired by Apollo Global Management, a private equity powerhouse, in a deal valued at $5.4 billion. The deal announced today, is expected to close by mid-2020.