Russound Buys Colorado vNet
Russound has reached an agreement to purchase Colorado vNet, the A/V manufacturer that closed its doors last month, the companies announced Monday.
Colorado vNet, as a result of the deal, will remain in business in Loveland, Colo., and provide products to its dealers.
"Colorado vNet brings a number of key assets to Russound: a talented team of personnel, industry-recognized automation and control technology, and a strong customer base," Charlie Porritt, Russound's CEO, said in a statement.
"The addition of Colorado vNet to the Russound family will advance both brands' ability to deliver whole house entertainment & control solutions while expanding our integration partnerships with a variety of lighting, HVAC, security, and automation brands."
Terms of the deal were not disclosed. The deal is expected to close by the end of the month.