Control4 & SnapAV Merger Shakes Up Market
Competition in the custom home automation market is set to significantly shake up, following news two of the industry’s titans SnapAV and Control4 are joining forces under a merger.
According to Dealerscope, SnapAV will acquire Control4 in an all-cash transaction valued at around $680 million. The deal was reportedly unanimously approved and recommended by Control4 directors.
The merger seeks to leverage both company’s capabilities, which some commentators claim will create one of the strongest forces in the custom integration market.
The transaction is expected to complete during the second half of 2019.
The companies assert its combined resources will provide a “true one-stop shop” for integrators – leveraging SnapAV’s A/V surveillance, networking and remote control expertise, with Control4’s home automation platform.
The combined Control4-SnapAV brand is tipped to offer a smart home automation portfolio that will be tough for rival companies to beat.
“Dealers will be able to buy leading solutions, access the best service technicians in the industry and experience simpler installation through purchasing, support and seamless product integration,” said John Heyman CEO of SnapAV in a statement.
“In sum, the two companies will be better together, with better service, better solutions and better opportunities for integrators and employees.”
The newly combined entity will reportedly encompass 1,200 employees, lead by Mr Heyman and an executive team with members from both organisations.
Control4 CEO, Martin Pleahn, is set to join the Board of Directors of the combined entity.