Updated and Confirmed: Best Buy Sells AudioVisions Back
We have an inside source that tells us that Best Buy is about to “dump” California-based integrator AudioVisions. AudioVisions was acquired by Best Buy in 2006 for around $7 Million and was supposed to represent the company’s foray into high-end custom HomeAV custom integration.
However, apparently, after owning the company for nearly seven years, Best Buy is selling the company back to the original founders for less than $2 Million, according to our source. This deal is expected to be announced in the coming weeks.
Update: As of Fri., Feb. 28., AudioVisions has confirmed on its website that Best Buy sold the company to Inspiria, Inc. dba AudioVisions.
More Stories Like This
MarketMakers, Inc. Acquired by C&E Marketing, a Patrick Industries Company
MarketMakers, Inc., a consumer electronics rep firm based in the Southeastern United States, has been acquired by C&E Marketing, a Patrick Industries company. The MarketMakers team of Liz and Jim Kershaw, Ben and Honey Van De Kreke, and Rick Lozano have spent their entire careers in service to the A/V industry. “With this effort, we have […]
Uniguest Acquires Otrum AS
Uniguest announced today that it has acquired Norwegian company Otrum AS, a digital engagement provider to the hospitality industry. Founded in 1985, Otrum AS delivers interactive TV and digital signage solutions that allow for audience engagement through any digital surface and boasts over 2.5 million users per month. Uniguest Chief Executive Officer Jeff Hiscox said, […]
Logitech Is Now Nearly a $5.5 Billion US Company
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full Fiscal Year 2022, ended March 31, 2022. The highlights include: Sales were Logitech’s highest ever at $5.48 billion, up 4% in U.S. dollars and 4% in constant currency compared to the prior year. This growth is on top of last year’s […]