Russound Completes Colorado vNet Acquisition
Sales and distribution will remain separate to maintain vNet's dealer-direct business model.
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.”
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Julie Jacobson is founding editor of CE Pro, the leading media brand for the home-technology channel. She has covered the smart-home industry since 1994, long before there was much of an Internet, let alone an Internet of things. Currently she studies, speaks, writes and rabble-rouses in the areas of home automation, security, networked A/V, wellness-related technology, biophilic design, and the business of home technology. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, and earned an MBA from the University of Texas at Austin. She is a recipient of the annual CTA TechHome Leadership Award, and a CEDIA Fellows honoree. A washed-up Ultimate Frisbee player, Julie currently resides in San Antonio, Texas and sometimes St. Paul, Minn. Follow on Twitter: @juliejacobson Email Julie at email@example.com
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