tmj4 Posted April 15 Share Posted April 15 Press Release Quote Link to comment Share on other sites More sharing options...
therockhr Posted April 15 Share Posted April 15 This seems to make sense. Snapone was basically the same thing as Resideo. They both have a products and distribution division. Quote Link to comment Share on other sites More sharing options...
DawnGordon Posted April 15 Share Posted April 15 Honeywell owns Resideo. Quote Link to comment Share on other sites More sharing options...
msgreenf Posted April 15 Share Posted April 15 2 minutes ago, DawnGordon said: Honeywell owns Resideo. I think you have that backwards. Resideo bought Honeywells Alarm business Quote Link to comment Share on other sites More sharing options...
therockhr Posted April 15 Share Posted April 15 1 minute ago, msgreenf said: I think you have that backwards. Resideo bought Honeywells Alarm business Sort of. It looks like Resideo was spun off from Honeywell's alarm and distribution business https://en.wikipedia.org/wiki/Resideo . Quote Link to comment Share on other sites More sharing options...
Control4Savant Posted April 15 Share Posted April 15 https://investors.snapone.com/news-releases/news-release-details/resideo-acquire-snap-one-expand-presence-smart-living-products Not great. End of an era. Quote Link to comment Share on other sites More sharing options...
therockhr Posted April 15 Share Posted April 15 does this really mean anything for Control4? i doubt anything for them really changes. it just looks like they are now part of a bigger company doing the same thing Snap was. Quote Link to comment Share on other sites More sharing options...
Control4Savant Posted April 15 Share Posted April 15 My comment has nothing to do with C4. A lot of us integrators dont use ADI for reasons. However, if you think things were slowly evolving for Control4 now.. just wait. therockhr 1 Quote Link to comment Share on other sites More sharing options...
therockhr Posted April 15 Share Posted April 15 5 minutes ago, Control4Savant said: My comment has nothing to do with C4. A lot of us integrators dont use ADI for reasons. However, if you think things were slowly evolving for Control4 now.. just wait. gotcha. i guess i was just saying its not like C4 will get shutdown or anything. Quote Link to comment Share on other sites More sharing options...
Control4Savant Posted April 15 Share Posted April 15 9 minutes ago, therockhr said: gotcha. i guess i was just saying its not like C4 will get shutdown or anything. No no. All signs point to larger (but IMO quality diluted) access and integrations. Savant is trying to become more exclusive, higher end. It’s amazing how different their paths have been in the last 5 years and how poor each brand has been at it. Quote Link to comment Share on other sites More sharing options...
IBZICON Posted April 15 Share Posted April 15 Shouldn’t come as a surprise as Hellman & Friedman LLC bought Snap AV back in 2017 then went on a buying spree including purchasing C4 in 2029, and a multitude of brands that we are all aware of. This is a private equity exit strategy for SnapOne being acquired by Resideo, as Hellmann & Friedman had a 72% ownership interest in Snap One. Today’s investor presentation. Quote Link to comment Share on other sites More sharing options...
c4Iona Posted April 15 Share Posted April 15 Control4 coming to an ADI branch near you! Quote Link to comment Share on other sites More sharing options...
RyanE Posted April 16 Share Posted April 16 4 hours ago, c4Iona said: Control4 coming to an ADI branch near you! Not necessarily unless you're a Control4 dealer. Same as in current Snap One distribution locations, I would assume. That said, I don't speak for any of the companies involved here, and can't predict the future, but I think you may be making an unfounded assumption... RyanE Quote Link to comment Share on other sites More sharing options...
Control4Savant Posted April 16 Share Posted April 16 25 minutes ago, RyanE said: Not necessarily unless you're a Control4 dealer. Same as in current Snap One distribution locations, I would assume. That said, I don't speak for any of the companies involved here, and can't predict the future, but I think you may be making an unfounded assumption... RyanE Definitely making assumptions… that doesnt negate the obvious when it comes to big business’s marketing these types of moves. Profits and sales are the goal here, not product. Id love to know what liquidly of $800m after closing will bring… Quote Link to comment Share on other sites More sharing options...
zaphod Posted April 22 Share Posted April 22 On 4/15/2024 at 2:32 PM, IBZICON said: Shouldn’t come as a surprise as Hellman & Friedman LLC bought Snap AV back in 2017 then went on a buying spree including purchasing C4 in 2029, and a multitude of brands that we are all aware of. This is a private equity exit strategy for SnapOne being acquired by Resideo, as Hellmann & Friedman had a 72% ownership interest in Snap One. Today’s investor presentation. I posted this in the thread in the main forum thread. It looks like Control4 hasn't been a very good investment for Snap One/ Hellman & Friedman. They should have sold the rest of their Snap One shares back in early 2022 when it was still well above $15/share and their lockup expired. Quote Snap One acquired Control4 in 2019 for $680M. This probably hasn't been a good investment for Hellman & Friedman, the PE firm that still owned 72% of Snap One, after IPO'ing it in 2021 for $18/share - especially since there was presumably some other value in other parts of Snap One excluding Control4. They(H&F) purchased Snap AV from General Atlantic in 2017. And I doubt that they have been pulling any money out of the company since it never had positive net income and averaged a loss of about $20M per year. Revenue has been flat over the last few years at about $1B. The takeover price is $10.75, assuming that it goes through. Snap One had been trading around $8 recently. Quote Link to comment Share on other sites More sharing options...
IBZICON Posted April 23 Share Posted April 23 6 hours ago, zaphod said: I posted this in the thread in the main forum thread. It looks like Control4 hasn't been a very good investment for Snap One/ Hellman & Friedman. They should have sold the rest of their Snap One shares back in early 2022 when it was still well above $15/share and their lockup expired. Reason why Snap One launched Control 4 assist and assist premium to drive additional RMR from service contracts. Quote Link to comment Share on other sites More sharing options...
zaphod Posted April 23 Share Posted April 23 Do we know how much C4 represents of Snap One's revenue? SnapOne's sales went from $591M in 2019 to 814M in 2020 and 1008M in 2021. C4's revenue from 2016-2018 was $208M, $244M and $273M - it was a separate public company at this time so its financial statements are public. So it seems to me that C4 would have been about 30% of Snap One revenue, allowing for a bit of growth Quote Link to comment Share on other sites More sharing options...
Cloudbusters Posted Friday at 07:58 PM Share Posted Friday at 07:58 PM Honeywell is a massive corporation dealing in industrial process, avionics, chemical and automotive industries to touch on a few. Resideo was spun off to focus strictly on the consumer market. They can bring a wealth of technology cross collaboration and development to SNAPONE and C4. Like any technology change, there will be challenges in the integration process. However, I am certain that as engaged as Resideo is with Matter, and their vast controls engineering team changes will not run amok. Once the dust settles we may see an onslaught of technology development. Remember the core of Honeywell that created Resideo, is also the leading companies in Advanced Industrial Process Control, Aircraft Avionics, Automotive Sensors, and some of the most advanced Fire, Surveillance, and Security Systems development to mention a few. There is much of that core skillset and ingenuity that will ingratiate SNAPONE & C4's engineering resources. I came from decades of industrial process consulting before engaging into the residential automation market as one of our 2 core businesses. The intrinsic 6th sigma culture and advanced development that Resideo can bring to the technology aspect of the business. Will ensure we can deliver proven, tested and harden field results to our clients. The more interesting part will be the distribution channels on how we receive the products. Hopefully, it will only improve in fidelity. I can see that as the biggest immediate challenge. Quote Link to comment Share on other sites More sharing options...
Cyknight Posted Friday at 08:55 PM Share Posted Friday at 08:55 PM 50 minutes ago, Cloudbusters said: Honeywell is a massive corporation dealing in industrial process, avionics, chemical and automotive industries to touch on a few. Resideo was spun off to focus strictly on the consumer market. They can bring a wealth of technology cross collaboration and development to SNAPONE and C4. Like any technology change, there will be challenges in the integration process. However, I am certain that as engaged as Resideo is with Matter, and their vast controls engineering team changes will not run amok. Once the dust settles we may see an onslaught of technology development. Remember the core of Honeywell that created Resideo, is also the leading companies in Advanced Industrial Process Control, Aircraft Avionics, Automotive Sensors, and some of the most advanced Fire, Surveillance, and Security Systems development to mention a few. There is much of that core skillset and ingenuity that will ingratiate SNAPONE & C4's engineering resources. I came from decades of industrial process consulting before engaging into the residential automation market as one of our 2 core businesses. The intrinsic 6th sigma culture and advanced development that Resideo can bring to the technology aspect of the business. Will ensure we can deliver proven, tested and harden field results to our clients. The more interesting part will be the distribution channels on how we receive the products. Hopefully, it will only improve in fidelity. I can see that as the biggest immediate challenge. Blah Blah ...Coolaid, powerade and gatorade all in one..... blah blah.....add some extra sugar, a dose of caffeine...blah blah, finish with a fee doughnut... Sorry my good man, but all this is standard corporate/marketing(and for that matter political) speech/spin going around and avoiding actually answering anything. Quote Link to comment Share on other sites More sharing options...
IBZICON Posted Friday at 10:42 PM Share Posted Friday at 10:42 PM 2 hours ago, Cloudbusters said: Honeywell is a massive corporation dealing in industrial process, avionics, chemical and automotive industries to touch on a few. Resideo was spun off to focus strictly on the consumer market. They can bring a wealth of technology cross collaboration and development to SNAPONE and C4. Like any technology change, there will be challenges in the integration process. However, I am certain that as engaged as Resideo is with Matter, and their vast controls engineering team changes will not run amok. Once the dust settles we may see an onslaught of technology development. Remember the core of Honeywell that created Resideo, is also the leading companies in Advanced Industrial Process Control, Aircraft Avionics, Automotive Sensors, and some of the most advanced Fire, Surveillance, and Security Systems development to mention a few. There is much of that core skillset and ingenuity that will ingratiate SNAPONE & C4's engineering resources. I came from decades of industrial process consulting before engaging into the residential automation market as one of our 2 core businesses. The intrinsic 6th sigma culture and advanced development that Resideo can bring to the technology aspect of the business. Will ensure we can deliver proven, tested and harden field results to our clients. The more interesting part will be the distribution channels on how we receive the products. Hopefully, it will only improve in fidelity. I can see that as the biggest immediate challenge. Matter founding working group was Amazon, Apple, Google, and the Zigbee alliance. Appears to me that Resideo is freeloading off the royalty-free Matter standard. Not a lot of positive to this news from dealers that currently shop at ADI stores. If anything the distribution channels will open up and be less restrictive to become a Control 4 dealer—maybe even composer pro is opened to end consumers to compete with Amazon, Apple and Google in the smart home market. Reminds me of when the iPhone was a AT&T exclusive, but for Apple to increase sales, the sales channels expanded to Verizon, T-Mobile, Sprint, and the regional carriers. Then Apple started to sell products in Costco. Coming soon will be Control 4 products at your local Costco with a toll free number for included local install. Quote Link to comment Share on other sites More sharing options...
msgreenf Posted Friday at 11:09 PM Share Posted Friday at 11:09 PM 27 minutes ago, IBZICON said: Coming soon will be Control 4 products at your local Costco with a toll free number for included local install. Highly doubt that Quote Link to comment Share on other sites More sharing options...
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