TiO Home Automation Maker Furloughs Employees, Continues to ‘Move Forward’
Automated Control Technology Partners (ACTP) furloughs workers; founder Mike Anderson vehemently denies tales of the home automation company's demise.
Automated Control Technology Partners (ACTP), the company that emerged from Colorado vNet and 3vNet, has fallen on some hard times, but founder and CEO Mike Anderson denies that the maker of the TiO home automation system is going out of business.
CE Pro received several emails yesterday from people claiming, among other things, that the ACTP office doors were locked, that employees haven’t been paid for months, that ACTP is filing chapter 11 and that a huge number of employees were laid off.
The idea that ACTP is closing shop is “wildly incorrect,” Anderson tells CE Pro. “We are still in our offices and preparing to gear up again in just a few weeks.”
He does confirm that an expected round financing is delayed and that the company did lay off “some employees,” whom he hopes to re-hire from “furlough” when funding does arrive.
“It was an unfortunate, but necessary, result of our most recent capital round being delayed,” he says. “We are confident the issues will be resolved and we will be moving forward again very soon.”
He stresses that the layoffs were a “responsible reaction to a cash flow shortfall caused by some delays in our capital raise. ... Our capital raise is moving forward.”
Responding to allegedly erroneous reports, he tells CE Pro: “We do owe some employees some back pay. They will all be paid in full. We are not filing chapter 11. We are not closed. We will continue to move forward and expect to be shipping TiO this summer.”
Anderson acquired the old Colorado vNet from his former employer Russound in 2012, renamed the company 3vNet and then decided last year to start from scratch with a new brand and a fresh product line based exclusively on IP, rather than 3vNet’s ZigBee architecture.
No central controllers are required for the system and all devices from the light switches to the streaming audio devices communicate via Ethernet and Wi-Fi.
The novel approach would make TiO the first pure-play end-to-end Internet-of-Things solution in the custom channel.
In a message sent to independent sales reps on May 1, Anderson thanks the firms for their loyalty and invites them to drop the line. He writes, “I am confident we will come out of this ordeal even stronger.”
He tells CE Pro: “TiO is here for the long haul and we hope to call back employees in a matter of a few weeks.”
Why on Earth Did Mike Anderson Buy vNet?
Interview: Why Mike Anderson is Closing, Reinventing 3vNet
Inside New TiO Home Automation System: Nothing Like vNet
CEDIA Expo Q&A: TiO Shows Home Automation System, StealthStream 1 Audio Player
ACTP Launches Turn it On Home Automation Brand
Colorado vNet Renamed 3vNet
Russound Sells Colorado vNet
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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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