Russound Sells Colorado vNet
Russound has sold Colorado vNet to former VP of sales and marketing Mike Anderson, who left Russound to start a new company.
The strategic plan of the new Colorado vNet, including whether the name/brand will remain intact, is expected to be announced by Anderson in the near future.
Anderson is relocating Colorado vNet’s headquarters to Florida in June 2012. The plan is to maintain all business operations and “continue as normal with order processing, sales, marketing and technical support from the current Colorado vNet headquarters.”
“As the VP of Sales for Russound and Colorado vNet, I’ve seen how the Colorado vNet brand has its own unique place in the market,” says Anderson. “Colorado vNet integrators have needs unique to themselves and having the opportunity to set this company apart - under its own direction once again - is an opportunity to provide those integrators with the support they deserve.
“We look forward to reestablishing the vNet brand and dealers can be assured that our team is excited and working hard to strengthen our relationships with them and to deliver on all the promise the brand has always held.”
Russound CEO Charlie Porritt says the sale is part of Russound’s 2012 plan to get back “on track with its core business delivering high value electronics, speakers and accessories to the residential and commercial systems integration channels.”
“As we unveil our plans over the next few weeks and months, dealers will see first hand that we are making long-term improvements to benefit all our valued customers,” says Porritt. “The entire Russound team has high enthusiasm and renewed energy for the strategic plan in place. I feel very good about Russound’s future growth and long-term success and it’s all pretty exciting!”
Russound acquired Colorado vNet in Oct. 2009 after a would-be investor fell through that would have forced vNet to shut its doors. But in Dec. 2010, Russound said it was winding down operations and would discontinue the Colorado vNet product line for good.
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Steve Crowe has been writing about technology since 2008. He lives in Belchertown, MA with his wife and daughter. Have a suggestion or a topic you want to read more about? Email Steve at email@example.com
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