rAVe Scoop: Nortek Seeks Buyer for TV One and Magenta Research

nortek-tvone-magenta-0713Earlier in May of this year, Nortek announced that it had experienced double-digit growth, as well as a slight increase in gross profit year-over-year. But, at the same time, it announced a net loss of $15.1 million, or $0.98 loss per share, compared with a net loss of $1.2 million, or $0.08 loss per share, in the first quarter of 2012 – a significant increase.

So, it’s not surprising that Nortek would be looking to dump a company or two to increase cash flow. We heard a rumor at InfoComm that Nortek was actively shopping a buyer for at least two of its Technology Solutions Group companies. Now we understand, via two different sources, that those two companies are TV One and Magenta Research. TV One is a video, audio and multimedia processing manufacturer primarily known for its proprietary CORIO video conversion technology and Magenta Research is best known for making video and audio to CATx UTP cable extenders.

We’ve asked for comment, but Nortek, being public, obviously won’t say anything on-the-record, but if you’re interested in buying one of the two companies, contact them here.