During its earnings call today, Control4 revealed that it had acquired Pakedge Device & Software Inc., the supplier of advanced networking products and cloud network-management services, for approximately $32.7 million in cash. The deal was finalized on January 29, 2016.
Control4 expects the acquisition to contribute to revenue growth, but primarily its an acknowledgement that networks are the foundation of everything connected and that most home networks today are not fully ready for the expanding requirements of a truly connected home. Pakedge, Control4 believes, will enable its dealers to supply seamless, scalable, reliable, and secure networks as a foundation for use in any connected home or business.
To read this story in full, visit the original post from sister magazine Residential Systems.
