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.