Control4 acquires Pakedge to expand networking capability5 February 2016
Control4 has announced the acquisition of Pakedge Device & Software, a move that brings networking expertise and a suite of power management and cloud-based remote management capabilities to the smart home solutions provider.
“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 began 12 years ago with the strategic vision that everything, starting with audio/video systems, will be connected over an IP-based platform,” said Victor Pak, Pakedge founder and CEO. “Our success was driven by a combination of customer focused innovation, engineering excellence, and passionate customers. Control4 shares our corporate philosophy and strategic vision. Joining together is a logical and exciting step to accelerate the realisation of that vision for our 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, regardless of whether they are also Control4 certified dealers.
The combined company intends to grow both the Pakedge and Control4 businesses through a combined dealer channel of over 4,700 dealers. All qualified dealers will be encouraged to explore both product-lines, and the combined Control4 and Pakedge team intends to actively cross-train and cross-certify dealers who desire to represent both product lines but are currently only qualified for one.
The Pakedge founders, senior management team and broader organisation 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 industry-leading and integrated solutions for the connected smart home and business.
Control4 acquired Pakedge for approximately $32.7 million in cash on January 29, 2016.