What year in the AV/IT industry would be complete without a shuffling of the deck? Representing billions of dollars changing digital hands, nearly a dozen acquisitions are set to strengthen companies such as QSC, Yorktel, AVI-SPL, CTI, Avocor, AVI Systems, and more.
If the year seems like a blur and you missed some news, below are the highlights all in one place.
Acuity to Acquire QSC
On Oct. 24, Acuity Brands announced it has reached a definitive agreement to acquire QSC for $1.2 billion ($1.1 billion net of approximately $100 million in estimated tax benefits). Neil Ashe, chairman, president, and CEO of Acuity Brands, said the acquisition of QSC builds on the company’s vision of data interoperability as it works to make spaces smarter, safer, and greener.
“In our Intelligent Spaces business, we are delivering meaningful outcomes for end users that are powered by disruptive technologies and that generate strong financial results,” Ashe explained. “QSC has built a differentiated cloud-manageable audio, video, and control platform that controls what happens in a built space.”
"We are excited to be joining a company that is aligned around our long-term mission and shares our values,” said Joe Pham, chairman and CEO of QSC. “Our shared vision of how we can leverage data with our technology solutions will elevate our ability to service our end users and drive growth.”
According to Acuity, the net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last 12 months ending Aug. 31, 2024. (QSC delivered sales of approximately $535 million during the same time period.) It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.
Yorktel Acquired by One Equity Partners
One Equity Partners (OEP) has completed the acquisition of York Telecom Corporation (Yorktel), a 2023 SCN Top 50 integrator. Financial terms of the private transaction were not disclosed.
“We are excited to partner with OEP as we embark on the next phase of growth for Yorktel,” said Ken Scaturro, CEO of Yorktel. “OEP’s expertise in the IT services sector will be invaluable as we further expand our solutions and offerings that enhance our customers’ digital workplace experience.”
Founded in 1985 and headquartered in Wall, NJ, Yorktel is a next-gen global systems integrator and managed services provider. The company supports a wide range of blue-chip enterprise customers and government agencies by delivering managed IT services, collaboration system integrations, and advanced AI-based monitoring solutions to elevate the hybrid work experience. Yorktel has over 500 global employees with a scalable operating footprint across the Americas, Europe, and Asia.
“Investments in productivity, automation, and collaboration technologies are a priority for business leaders,” said Otavio Birman, VP, OEP. “Yorktel is well positioned to help meet this demand by delivering solutions that improve client operations in an increasingly connected environment.”
Avocor Acquired by AUO
Avocor is now part of an $8 billion company, or thereabouts. On Sept. 25, AUO Display Plus (ADP), a subsidiary of AUO Corporation (AUO) and a global provider of industrial and commercial displays, announced the acquisition of Avocor, an innovator in collaboration and communication solutions. The strategic acquisition is set to accelerate Avocor's growth by integrating AUO Display Plus' extensive expertise in display technology and global resources. AUO's consolidated net revenue in 2023 was $8.07 billion.
As part of AUO’s ongoing biaxial transformation strategy, the acquisition marks a significant step in deepening its vertical market applications under the Go Vertical initiative. By integrating Avocor’s expertise in interactive display solutions and its sales capabilities and distribution channels, AUO Display Plus is positioned to offer more diverse product platforms and comprehensive services to global customers in the education and enterprise markets. Through the acquisition, ADP will be able to accelerate its expansion into new verticals and solidify its position as a leader in smart display solutions with a reinforced value chain ecosystem.
Since 2022, AUO Display Plus has been a significant investor in Avocor, fostering a partnership that has enabled Avocor to expand its product offerings, including dvLED displays, digital signage, and commercial displays. The acquisition represents a natural progression of this successful collaboration, with AUO and ADP fully committed to investing in Avocor's future.
"We are excited to embark on this journey with Avocor," said Frank Ko, CEO and President of AUO. This strategic move will further strengthen our presence in the solution business while also amplifying the cross-business synergies within the AUO group. Together, we are poised to set new benchmarks in the display industry, leveraging our combined expertise to deliver unparalleled value to our customers and partners."
According to Avocor’s CEO Scott Hix, the Avocor brand message has just gained a lot of muscle. "We now can stand for longevity. With the strength of AUO Display Plus, we're not going anywhere," he said. "More importantly, our customers look for innovation and value in terms of cost-benefit. When you consider the supply chain that we now have behind us, in addition to the technology access, we truly are our brand now that will be here for a very long time that can meet all of your large format display needs, that should have the best value in product with the best technology innovation because we control the elements of the value chain that most brands do not."
Korbyt Acquires NFS Technology
Korbyt has acquired NFS Technology, a provider of meeting room booking and space management software solutions and services. The addition of NFS Technology’s advanced room booking and space management solutions complements the Korbyt Anywhere platform, delivering greater value to its customers across the globe.
Korbyt’s digital signage and workplace communications software solutions serve more than 350 enterprise clients globally and its cloud-native Korbyt Anywhere platform empowers organizations to engage their audiences—employees, students, customers and guests—through a single integrated platform across multiple channels, including digital signage, desktop, web, email, and mobile devices.
“Workplace communication has evolved dramatically over the past several years, placing an enormous burden on enterprises and other large organizations to embrace modern communications tools that reach their audiences at any location, on any device, while also maximizing shared spaces for in-person collaboration,” said Ankur Ahlowalia, CEO of Korbyt. “Enhancing the Korbyt Anywhere platform with the NFS Rendezvous product suite will bring unparalleled value to the market under one integrated platform and help our shared customer base create engaging workplace experiences where employees, customers and guests can thrive and effectively collaborate.”
“The NFS team is excited to join forces with Korbyt as we unite behind our shared mission of delivering a modern workplace experience platform to our customers,” said Luis De Souza, Founder and CEO of NFS Technology. “Successful organizations provide people-centric workplaces where employees enjoy a great experience and can perform at their best. I have known Korbyt for many years and have tremendous respect for the quality of their software solution and the culture they have built - their customer-centric approach to doing business mirrors NFS’s long-standing commitment to the highest quality support. Further, we have already integrated the platforms and look forward to the enhanced capabilities we can deliver together as the industry’s most engaging and robust workplace experience solution.”
Williams AV Acquires TeachLogic
Williams AV has acquired TeachLogic, which specializes in sound reinforcement solutions for K-12 classrooms. TeachLogic’s products complement Williams AV’s assistive communication portfolio and mission to empower connections and create inclusive spaces.
For 30 years, TeachLogic has been addressing a critical barrier to learning: poor room acoustics. Serving the U.S. education market, its advanced audio systems ensure all students have equal access to the teacher’s voice and other classroom audio sources, providing clear instruction throughout the classroom. Dozens of academic studies have shown when teachers use properly installed soundfield systems like those that TeachLogic makes, academic gains include up to a 15% increase in students’ math and reading scores and a 30% improvement in comprehension for ELL students.
"The acquisition aligns perfectly with Williams AV's strategic objectives," ,” said Brad Kautzer, president and CEO of Williams AV. "Both companies are passionate about creating inclusive spaces with intelligible audio. This underscores our commitment to growth and innovation. We look forward to expanding our footprint in the education market with TeachLogic products in the U.S. and internationally.”
Focusrite Acquisition
Immersive audio company Focusrite, acquired spatial audio software house Innovate Audio. The U.K.-based company is best known for its panLab spatial audio solutions, all of which will now be moved under the Focusrite subsidiary TiMax. Innovate Audio founder, Dan Higgott, will also join TiMax as a senior product developer. The acquisition means that TiMax’s immersive audio products will range from entry-level panning software through to full delay-matrix spatial processors and performer stagetracking.
CTI Acquires ASI, Expands AV Services to Minneapolis
CTI, one of the largest privately held, U.S.-based AV integration and events providers, has acquired Advanced Systems Integration (ASI) of Burnsville, MN. ASI has built a strong reputation in the Minneapolis area and across Minnesota, and will become CTI’s first office in the state.
“Any AV company would be proud to have built the relationships that Advanced Systems Integration has built with the businesses, courtrooms, and local governments in Minneapolis and around Minnesota since its founding in 2011," said John Laughlin, CEO of CTI. "The team shares the core values that drive CTI. They’re the right people to expand CTI's footprint in the region, and I look forward to seeing what they can do with the resources CTI brings."
Headquartered in St. Louis, CTI has served clients in the corporate, education, healthcare, house of worship, government, sports, and broadcast markets since 1988. The company serves customers nationwide with 36 locations and worldwide as a member of the PSNI Global Alliance.
CTI Makes Second Acquisition in June, Adds Digital Technology Solutions
After announcing its acquisition of Advanced Systems Integration (ASI) on June 5, CTI—the largest privately held AV integration and events provider in the U.S.—has acquired Digital Technology Solutions of San Antonio, TX, adding the team’s client relationships and 23 years of integration excellence to the CTI roster. CTI serves customers nationwide, with locations spread from Minnesota to Texas, New Jersey to California, and worldwide as a member of the PSNI Global Alliance.
“Digital Technology Solutions has built a tremendous reputation in the 20 years they’ve fulfilled the AV integration needs of businesses, government, schools, and houses of worship in and around San Antonio," said John Laughlin, CEO of CTI. "Their service-first approach and focus on doing the right thing make them a perfect match for the culture here at CTI. I look forward to bringing CTI’s resources to the team in San Antonio and growing the practice well into the future.”
Headquartered in St. Louis, CTI has served clients in the corporate, education, healthcare, house of worship, government, sports, and broadcast markets since 1988. The company serves customers nationwide, now with Digital Technology Solutions marking the 37th location.
AVI-SPL to Acquire ICAP Global
AVI-SPL has reached an agreement to acquire Grupo ICAP Global (ICAP Global) of Latin America and Spain. The two companies will merge under AVI-SPL, creating a global AV, UC&C, workplace management, and experience technology provider able to serve customers across the globe locally. The acquisition is expected to close by August.
Founded in 1957 and operating today in Argentina, Chile, Colombia, Peru, and Spain, ICAP Global is known for its technology expertise and service as well as value-added distribution. The combined entity will be uniquely qualified to advance clients’ digital experience transformation worldwide with a wide portfolio of AV, UC&C, IoT, and managed services backed by a large global team positioned locally across North America, South America, Europe, and Asia.
“We’ve long admired ICAP Global’s remarkable success and industry leadership,” said John Zettel, CEO of AVI-SPL. “They became the leading AV and UCC service provider in their markets by consistently creating client value through outstanding quality and exceptional service. Now, we’ll work and grow as one as we expand globally to serve our customers locally wherever they need us.”
AVI-SPL and ICAP Global are known for inspiring confidence in their clients and vendors and developing loyal, lasting relationships. Clients of both companies can continue to expect AVI-SPL to anticipate their needs and exceed their expectations in providing globally consistent delivery and exceptional user experience to increase technology adoption and drive growth.
AVI Systems Acquires Audio Visual Associates
New Jersey-based Audio Visual Associates (AVA) will join AVI Systems as it 32nd U.S. location. AVA will serve its clients going forward as AVI Systems. The majority of AVA employees will become employee owners at AVI Systems when the transition is complete. This comes after announcing a new AVI Systems location in Washington, D.C., as well as the opening of new office locations in Boston and New York City in 2023.
“The Northeast region of the U.S. is AVI System’s fastest growing geography with strong demand from global customers,” said Jeff Stoebner, CEO at AVI Systems. “AVA resources are ready, set, go for rapid expansion and the New Jersey facilities will compliment AVI’s fastest growing location in New York City. It’s a great time to be AVI with the strongest financial performance in our 50-year history; our employee owners are proud of these recent achievements.”
AVA specializes in the design, sale, service, installation and rental of AV solutions found in corporate and hotel environments. The company has operated with a “whatever it takes” philosophy, making AVA employees valued technology partners and advisors to every client served.
“AVA is a perfect fit with AVI Systems as we continue to grow our presence and serve clients throughout the Northeast,” said Joe Melfa, AVP at AVI in New York. “In just 24 months, we have grown strategically to be the dominant provider of audio visual and unified collaboration solutions including Microsoft Teams Room and Zoom room solutions. In addition, we design, install and support digital media solutions and broadcast solutions—all backed by a full suite of managed services. As our client base continues to grow, AVI is ready to deliver world class solutions and support, reach, and the ability to scale with each client we serve.”
Visionary Acquires Azure Development Solutions
Visionary has acquired IPTV software company and U.K. distributor, Azure Development Solutions, which operates under the brand NetworkTV. This move enhances Visionary’s capabilities in IPTV and expands its AV-over-IP sales channels, while simultaneously establishing a strong European headquarters.
The acquisition enables the company to leverage NetworkTV’s established market presence and expertise in the U.K. and European markets. NetworkTV, known for its technical expertise in IPTV solutions and excellence in customer service, will now operate as Visionary’s European arm, positioning the company to better serve its growing customer base across the continent.
NetworkTV’s existing management team will assume leadership of the new European operation, ensuring seamless integration and continuation of high-quality services. The integration of NetworkTV into Visionary's operations will significantly enhance the company's IPTV offerings with a broader range of advanced network AV solutions, and additionally establish a European headquarters in the UK, bolstering Visionary's operational capacity. This strategic move is anticipated to accelerate the growth of Visionary's global sales and distribution network, offering customers the benefit of combined expertise and resources.
