OS Plays Key Role In Control4 Growth As Value Rockets 24% Following Float
Products from the 10 year old Company that was started by former Intel executives are proving extremely popular in Australia with the local distributor Advance Audio the most successful distributor in the world for Control4.
Overnight Control4 shares started at $19.81 and closed at $20.05, up 25.3% from the offer price, the business is valued at $500M.
As Control4 only relinquished about 18% of the business to the public, valuation for the firm exceeded $500 million. In 2012 revenues were $109.5M.
The Company has some 2,800 active dealers and 120,000 residential installs.
Control4 was founded by Will West and Eric Smith.
45 percent of Control4 customers have household incomes of $100,000 to $250,000. Some 13 percent have household incomes of less than $100,000.
In Australia Control4 gear is expensive an entry-level controller [HC-250] sells for $750 in Australia it is over $1,000.