Control4 acquires Leaf Audio
Control4 had previously sold select Leaf products to its North American dealer network. Through this acquisition, Control4 is now in a better position to offer a broader array of Leaf products to Control4 distribution partners throughout the world, gain market share in the growing AV category, and leverage Leaf’s valuable engineering expertise to develop new and innovative AV entertainment solutions.
The acquisition of Leaf demonstrates Control4’s continued commitment to provide its end-customers and authorized independent dealers with the best products and the most choice for smart-home owners desiring comprehensive, multi-room audio and video entertainment. With the Leaf product line, A/V content from any source can be enjoyed on any TV within the home, rather than needing separate dedicated sources for each television, such as cable boxes, satellite receivers and streaming devices. Whether a family wants to enjoy music or a movie in just the family room or kitchen, or in multiple rooms throughout the entire home, Control4 now has a comprehensive line of AV media distribution products for a broader range of installation configurations and budgets.
“Leaf’s established product line and continued innovation investments position our combined company at the forefront of distributed HD video,” said Martin Plaehn, Control4 Chairman and CEO. “Offering the entire Leaf product line to our network of independent dealers will introduce the benefits of distributed video content to many more homeowners around the world, and by combining our engineering talent, we can accelerate the development of new entertainment experiences for our customers.”
Control4 acquired Leaf for approximately $9 million in cash on January 30, 2015. Control4 expects this acquisition to be neutral to Q1 2015 earnings and moderately accretive to full-year 2015 earnings on a non-GAAP basis.
The Leaf product development team in Melbourne, Australia will work together with Control4 engineering teams in Salt Lake City and San Jose to create industry-leading, high-fidelity media delivery and automation solutions.