“Entertainment is integral to the connected home and our Control4 dealers are designing end-to-end experiences for family room entertainment, home theaters, and indoor and outdoor multi-room music for their customers,” said Martin Plaehn, Control4 Chairman and CEO. “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.”
Nearly the entire Triad organization, a 30-years-young company based in Portland, will join the Control4 team, including founder Larry Pexton. Control4 will gain access toTriad’s R&D, manufacturing, and custom services employees, all of whom will continue operating from Triad’s existing facility.
“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 Larry Pexton, founder and CEO of Triad. “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.”
Immediately following the merger, all Triad dealers will have access to an online portal that can place product orders and customize requests. Control4 and Pakedge dealers may also order Triad solutions online, starting today. In the coming weeks, the Triad dealer portal will also include technical training information and additional marketing resources.
Triad generated approximately $9 million in revenue in 2016, which Control4 plans to invest in the operations of the business during 2017 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.