All Articles Tagged Mergers And Acquisitions

CE Pro Editors | 05/23 01:02 PM, 0 Comments

Two leaders in the computer networking space are combining as hard drive manufacturer Seagate has entered an exclusive agreement to acquire network-attached storage (NAS) device maker LaCie. Seagate will purchase 64.5 percent of the outstanding shares of LaCie. Following receipt of governmental approvals and the close of this transaction, Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares. The transaction is expected to be neutral to Seagate's fiscal 2013 earnings per share. "Seagate has a… View this story

Jason Knott | 05/21 10:14 AM, 0 Comments

Eaton Corporation (NYSE: ETN) and electrical equipment supplier Cooper Industries (NYSE: CBE) have entered into a definitive agreement under which Eaton will acquire Cooper in a transaction that will significantly increase the capabilities and geographic breadth of the combined company’s power management portfolio and electrical business. In the residential low-voltage datacomm space, Cooper Wiring Devices makes video modules, wall plates, data modules, structured wiring enclosures, and phone modules. Eaton makes residential structured wiring solutions, surge protection, spa controls, solar inverters and electric vehicle charging stations. Eaton reported $16 billion in… View this story

Steve Crowe | 04/24 01:34 PM, 0 Comments

Nationwide Marketing Group has agreed to buy Cantrex, Canada’s premier buying group that has more than 1200 stores with annual sales approaching $2 billion. Terms of the deal were not disclosed. The transaction is expected to close at the end of April 2012. Cantrex, a division of Sears Canada, was housed in the Sears Canada logistics center in Montreal. Sears Canada and Cantrex associates will continue to share the facility, and there will be no immediate impact upon their day-to-day duties, Sears Canada said. At its recent PrimeTime buying event… View this story

Jason Knott | 04/04 01:14 PM, 1 Comment

Audax Group, a Boston-based investment firm, has completed the acquisition of Tri-Northern Holdings, Inc., the holding company for distributor Tri-Ed/Northern Video Distribution. Terms of the transaction were not disclosed. Headquartered in Woodbury, N.Y., Tri-Ed/Northern Video is an independent distributor of low-voltage electronic security products including video, intrusion, access/fire, and other ancillary products. With 47 locations across the United States and Canada, Tri-Ed/Northern Video Distribution serves both commercial and residential markets through its branch and technical sales business units. In an interview with CE Pro, Tri-Ed/Northern Video Distribution president and CEO… View this story

Jason Knott | 04/03 08:33 AM, 0 Comments

Interface Security Systems, LLC has completed a merger with Westec Intelligent Surveillance, Inc. based in Coppell, Texas. Westec is one of the nation's largest full-service video surveillance monitoring companies, while Interface specializes in IP managed cloud services and cloud-based managed physical and logical service. The companies claim the merger creates the only nationwide managed service provider of security solutions (alarm, video, access control) along with VoIP and secure broadband in a cloud-based architecture. Westec and Interface customers are concentrated in the retail, QSR (quick-service restaurant) and hospitality industries. "Our customers… View this story

Jason Knott | 01/24 08:57 AM, 5 Comments

Nortek, Inc. (NASDAQ: NTK) has formally completed the consolidation of its two mount manufacturing subsidiaries by merging OmniMount Systems, Inc. into Ergotron, Inc. The merger of these two brands positions Ergotron as a supplier of display and entertainment mounting solutions for both the consumer and A/V pro markets, says the company. OmniMount products will remain the consumer brand within Ergotron's product offerings. The company says in a press release that under the umbrella of one company, "the Ergotron and OmniMount brands are uniquely positioned to provide the global community with… View this story

Jason Knott | 01/04 10:39 AM, 2 Comments

Gibson Guitar Corp. has announced a strategic partnership with Onkyo Corp. Onkyo's home theater and audio equipment will provide Gibson's newly-formed Pro Audio Division substantial technology resources. Gibson will provide Onkyo with its marketing resources and expertise. Gibson will acquire a majority of Onkyo USA (Onkyo's exclusive distributor for North America and a distributor for Central and South America) and become the second-largest shareholder in Onkyo Corp. Gibson will make a strategic investment in Onkyo, and Gibson chairman and CEO Henry Juszkiewicz will be given a position on the Onkyo… View this story

Jason Knott | 11/14 12:28 PM, 1 Comment

Sometimes the best exit strategy for an owner is right under his own nose. For example, University Audio in Madison, Wis. has just been purchased by Ben Gottlieb, the company's general manager since 2000 and an employee since 1992. University Audio is a full-service, home theater retail store and a design/installation service that has been in business since 1990. Under Gottlieb's management, the store has survived tough economic times. The company is a member of the CEA Audio Video Retailer division as well as CEDIA. "Our clients value the many… View this story

Jason Knott | 11/09 08:21 AM, 0 Comments

There has not been an attempt at a national footprint for custom electronics in several years. Now defunct Signature Media Group and TheatreXtreme come to mind, but a new player, Insight Home Solutions, has just acquired two integration companies in Canada and two veteran companies in the Phoenix area. Insight Home Solutions has just acquired 10-year-old RAD Home Integration of Scottsdale, Ariz. and 50-year-old Phoenix Home Theater of Fountain Hills, Ariz. The buyouts go along with acquisitions of Coast Sound fx near Vancouver, British Columbia, and Smart Home Systems in… View this story

Jason Knott | 10/04 07:48 AM, 0 Comments

Tri-Ed/Northern Video is continuing its expansion with the acquisition of Video Security Specialists (VSS), a West Coast CCTV distributor. Tri-Ed/Northern Video will maintain the two VSS offices in Burbank and Corona, California and will integrate the Las Vegas office and sales team into the Tri-Ed/Northern Video branch in Vegas. “We are very excited to increase our North American footprint and continue to exceed the expectations of security professionals in these markets,” notes Pat Comunale, president and COO. “We welcome the VSS sales staff to the Tri-Ed / Northern Video team.”… View this story