Custom integration supplier SnapAV and Control4, a supplier of smart home solutions, announced that they will merge, with SnapAV acquiring Control4 in an all-cash transaction valued at approximately $680 million.
According to a statement, the combination will leverage the increased resources of the two companies to "provide integrators with a true one-stop shop, offering a complete product portfolio of custom smart-home, control, and automation solutions."
“We have pursued the mission of making our integrators’ lives easier since SnapAV was founded,” said John Heyman, CEO of SnapAV. “Dealers will be able to buy leading solutions, access the best service technicians in the industry and experience simpler installation through purchasing, support and seamless product integration.
The transaction is expected to be completed in the second half of 2019.