Control4 buys home networking provider
The acquisition of Pakedge Device & Software brings to Control4 deep networking expertise as well as a suite of networking, power management, and cloud-based remote management capabilities.
“The connected consumer, connected home, and connected business opportunity is expanding along with the complexities of supporting thousands of different devices and services in homes and business around the world,” said Martin Plaehn, Control4 chairman and CEO. “By embracing networking as an expanded core-competency, integrating it tightly with our entertainment and automation capabilities, and delivering a single cloud-based reporting and management solution, Control4 will be able to harness the expanding opportunity, bring more simplicity to the complicated, and increase satisfaction for our end customers.”
Pakedge had approximately $18.5 million in sales in 2015, delivered through its professional sales and installation channel of 1,700 independent dealers, 560 of which are also Control4 certified dealers. Control4 intends to fully support the Pakedge product-line for all Pakedge dealers.
The Pakedge founders, senior management team and broader organization are joining Control4. The Pakedge teams in Huntington Beach and Hayward, California and its independent development office in Belgrade, Serbia, will begin working together with Control4 to create, market, and support tightly integrated solutions for the connected smart home and business.
Control4 acquired Pakedge for approximately $32.7 million in cash on January 29, 2016.