Russound Acquires Colorado vNet
By Joseph Palenchar -- TWICE, 10/19/2009
Newmarket, N.H. - Russound completed its acquisition of Colorado vNet and vowed to maintain the vNet brand and keep its distribution separate.
Russound CEO Charlie Porritt, however, said Russound is open to "other economies of scale that can be gained by sharing resources for the two brands." Engineering resources, for example, might be shared to develop products for both brands, and although there are no immediate plans to merge the companies' technical support and training programs, Russound is exploring the potential for such synergies in the near future, the company added.
"One of the most exciting aspects of this acquisition is how it opens the door for true collaboration between the two companies," said Porritt. "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."
Colorado vNet, the manufacturer of IP-based multi-room-A/V and home-control systems, shut down late last month for lack of funding. Since then, the company entertained proposals from prospective investors to restart operations.
The acquisition gives Russound, the supplier of multi-room-A/V systems, an entre into systems that integrate the control of multiple home systems, including lighting.
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