“Entertainment is integral to the connected home and our Control4 dealers are designing end-to-end experiences for family room entertainment, home theatres, and indoor and outdoor multi-room music for their customers,” said Control4 chairman and CEO Martin Plaehn.
“The acquisition of Triad brings proven premium-acoustics experience and innovation to our company, enabling us to immediately deepen our entertainment offering and develop new integrated-audio experiences for the future.”
Triad has a 30-year history of manufacturing a comprehensive range of high-quality, built-to-order premium audio speakers for home theatres, family rooms, whole-home or multi-room audio, as well as for outdoor environments.
The acquisition of Triad is a strategic addition to the Control4 entertainment portfolio, which includes the fully programmable Control4 EA-series controllers with native high-resolution streaming music services, its family of multi-room audio matrix switches and amplifiers, and its family of ultra-HD 4K video matrix switches with audio down-mixing capabilities.
“At Triad, high-quality audio, custom design, and seamless integration have been the standards that we will continue delivering to our dealers and their end customers,” said Triad founder and CEO Larry Pexton.
“Becoming part of the Control4 family enables us to expose our engineering expertise to those homeowners in the broader market of home automation and entertainment who are passionate about their listening experience.”
In the coming weeks, the Triad dealer portal will include technical training information and additional marketing resources.
Almost the entire Triad team will be joining Control4, including founder Larry Pexton, Triad’s R&D, manufacturing, and custom-services employees, who will all continue operating from Triad’s existing facility in Portland, Oregon.
Triad generated approximately $9m in revenue in 2016 and total consideration for the acquisition consisted of $9.6m in cash.
Control4 plans to invest in the operations of the business this year in order to push adoption of these products through its larger sales channels. As a result, Control4 anticipates that the acquisition will be net income neutral in 2017, after adjusting for acquisition related expenses.
Control4 will provide guidance for the second quarter and update its annual guidance to include the operations of Triad at its next earnings call.