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Russound Completes Colorado vNet Acquisition
Sales and distribution will remain separate to maintain vNet's dealer-direct business model.
Russound CEO Charlie Porritt with Russound owner Maureen Baldwin
Russound, a leading multiroom audio manufacturer, has closed its deal to acquire Colorado vNet, best known for its lighting controls.
Russound still is not revealing the details of the acquisition, but the company maintains it bought the beleaguered vNet largely for channel purposes. Privately-held Russound says it will keep vNet's headquarters in Loveland, Colo., and it will not alter distribution strategies.
Russound currently is one of the most broadly distributed brands in multiroom audio.
Colorado vNet, which offers lighting controls, home automation and IP-based multiroom audio, sells products direct to dealers. The company claims to have 950 authorized dealers.
Russound CEO Charlie Porritt says the two organizations will remain separate in terms of sales and distribution, and there is "no immediate plans to merge the companies' respective support and training programs."
Porritt does anticipate, however, that Russound will lend its e-training expertise to Colorado vNet. And he hints at cross-training at both vNet and Russound (Newmarket, N.H.) headquarters.
“One of the most exciting aspects of this acquisition is how it opens the door for true collaboration between the two companies,” Porritt says. “Between Russound’s audio expertise and Colorado vNet’s leadership in automation and integration technologies, we will be able to develop products that will simplify and ultimately redefine the market for whole-house entertainment and control solutions.”
Colorado vNet closed its doors in September, but Russound saved the firm from a permanent shut-down, much to the relief of frantic vNet dealers.
Russound still is not revealing the details of the acquisition, but the company maintains it bought the beleaguered vNet largely for channel purposes. Privately-held Russound says it will keep vNet's headquarters in Loveland, Colo., and it will not alter distribution strategies.
Russound currently is one of the most broadly distributed brands in multiroom audio.
Colorado vNet, which offers lighting controls, home automation and IP-based multiroom audio, sells products direct to dealers. The company claims to have 950 authorized dealers.
Russound CEO Charlie Porritt says the two organizations will remain separate in terms of sales and distribution, and there is "no immediate plans to merge the companies' respective support and training programs."
Porritt does anticipate, however, that Russound will lend its e-training expertise to Colorado vNet. And he hints at cross-training at both vNet and Russound (Newmarket, N.H.) headquarters.
“One of the most exciting aspects of this acquisition is how it opens the door for true collaboration between the two companies,” Porritt says. “Between Russound’s audio expertise and Colorado vNet’s leadership in automation and integration technologies, we will be able to develop products that will simplify and ultimately redefine the market for whole-house entertainment and control solutions.”
Colorado vNet closed its doors in September, but Russound saved the firm from a permanent shut-down, much to the relief of frantic vNet dealers.
Colorado vNet: A Look Back
 | Colorado vNet Closes Again Russound tried to rescue the home automation/multiroom audio vendor after its "abrupt closure," but couldn't make it viable. Russound to Acquire Colorado vNet Terms of transaction are undisclosed. Colorado vNet brand name will remain intact. 3 Reasons Russound’s Colorado vNet Acquisition is Smart Assuming Russound got a good deal on the shuttered manufacturer, access to Colorado vNet's 950 dealers alone makes it a risk worth taking. Schneider/Square D Eyes Colorado vNet Dealers Clipsal lighting control products employ similar wiring topologies as vNet lighting controls. Who Would Buy Colorado vNet? Colorado vNet has closed shop. Would Nortek, Legrand, AMX, Somfy, Schneider be interested? Colorado vNet 'Cautiously Optimistic', Launches 'Bring vNet Back' Campaign Since shutting down, Colorado vNet has received "several commitments to invest" and could have a resolution by the end of the month. Colorado vNet Approaches Shut-Down Provider of lighting controls, audio and video systems and home automation is "in the process of discontinuing operations;" CEO still has hope. Discuss: Colorado vNet Dealer Support | |
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Article Topics
News · Home Automation and Control · Control Systems · Mergers and Acquisitions · Distributed Audio · Home Automation · Mergers And Acquisitions ·About the Author
Julie Jacobson, Editor-at-large, CE Pro
Julie Jacobson is co-founder of EH Publishing and currently spends most of her time writing for CE Pro, mostly in the areas of home automation, networked A/V and the business of home systems integration. She majored in Economics at the University of Michigan, earned an MBA from the University of Texas at Austin, and has never taken a journalism class in her life. Julie is a washed-up Ultimate Frisbee player with the scars to prove it. Follow her on Twitter @juliejacobson.
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