MILBRAE, CALIF. –
CE industry veteran Gary Yacoubian jumped into a new CE venture as head of Specialty Technologies.
The CE industry veteran is president, CEO and managing partner of Specialty Technologies, a company created in late May. He officially starts his new role today, June 6.
Yacoubian said the company was specifically formed to acquire SVSound, a high-end niche maker of speakers and subwoofers that sells uses a direct to customer business model.
The financial details of the agreement were not released and Yacoubian would not divulge the other partners involved in Specialty Technologies, but he did say this information will be released at a later date.
Under the deal SVSound will retain its senior design and product management teams and its founder will remain on board. Company founder Ron Stimpson and COO Ed Mullen will also continue to have a role with the company. These were not defined.
Specialty Technologies will also be used to explore what is possible in the specialty CE space, Yacoubian said.
SVSound is the first piece of this puzzle. The company’s plan for SVSound involves expanding the brands product offering to include related high-end equipment. Again, no specifics were given.
“The niche is very narrow, but the products are awesome so we are looking for other ways to leverage the brand,” he said. Other ideas being discussed is bringing products out under the Specialty Technologies’ name and looking at utilizing the retail market.
Prior to taking on this new role Yacoubian had been VP, strategic development for Monster Cable for the last two years. Previously he was president of Myer- Emco and served as chairman of the executive board of the Consumer Electronics Association. He will continue to advise Monster as senior strategic advisor to Noel Lee, head Monster.