Transaction Immediately Enhances Control4's Range of Audio/Video Entertainment Solutions
SALT LAKE CITY - Control4 Corporation (NASDAQ:CTRL), a leading provider of home automation and control solutions, today announced the acquisition of Nexus Technologies Pty., Ltd. (Leaf), an Australia-based provider of audio/video distribution products. Control4 had previously sold select Leaf products to its North American dealer network. Through this acquisition, Control4 is now in a better position to offer a broader array of Leaf products to Control4 distribution partners throughout the world, gain market share in the growing A/V category, and leverage Leaf's valuable engineering expertise to develop new and innovative A/V entertainment solutions.
The acquisition of Leaf demonstrates Control4's continued commitment to provide its end-customers and authorized independent dealers with the best products and the most choice for smart-home owners desiring comprehensive, multi-room audio and video entertainment. With the Leaf product line, A/V content from any source can be enjoyed on any TV within the home, rather than needing separate dedicated sources for each television, such as cable boxes, satellite receivers and streaming devices. Whether a family wants to enjoy music or a movie in just the family room or kitchen, or in multiple rooms throughout the entire home, Control4 now has a comprehensive line of A/V media distribution products for a broader range of installation configurations and budgets.
"Leaf's established product line and continued innovation investments position our combined company at the forefront of distributed HD video," said Martin Plaehn, Control4 Chairman and CEO. "Offering the entire Leaf product line to our network of independent dealers will introduce the benefits of distributed video content to many more homeowners around the world, and by combining our engineering talent, we can accelerate the development of new entertainment experiences for our customers."
Control4 acquired Leaf for approximately $9 million in cash on January 30, 2015. Control4 expects this acquisition to be neutral to Q1 2015 earnings and moderately accretive to full-year 2015 earnings on a non-GAAP basis.
The Leaf product development team in Melbourne, Australia will work together with Control4 engineering teams in Salt Lake City and San Jose to create industry-leading, high-fidelity media delivery and automation solutions.
For more information, visit www.control4.com.
Control4 [NASDAQ:CTRL] is a leading provider of automation systems for homes and businesses, offering personalized control of lighting, music, video, temperature, security, communications and similar functionalities into a unified home automation solution that enhances the daily lives of its customers. Control4 unlocks the potential of connected devices, making entertainment systems easier to use, homes more comfortable and energy efficient, and families more secure. More than 75% of Control4's consumers have integrated two or more functionalities with Control4's solution, which is available through more than 3,000 custom integrators, retail outlets, and distributors in over 80 countries. By delivering insightfully simple control solutions that enhance the lives of individuals and families, Control4 is the automation platform of choice for consumers, major consumer electronics companies, hotels, and businesses around the world.