Nortek Acquires TV One
PROVIDENCE, R.I.: A subsidiary of Nortek Inc., an HVAC specialist in the Northeastern U.S., has acquired TV One, the broadcast video technology company in Erlanger, Ky. The sale includes all TV One related, wholly owned companies in the United States, the United Kingdom, Taiwan and China. TV One will be included in Nortek’s Technology Products segment and closely aligned with Magenta Research Ltd. The transaction was completed on April 28, 2011. Financial details were not disclosed.
“We recently celebrated our 25th anniversary in the Pro AV industry and have established a record of consistent growth, profitability and product innovation,” TV One CEO David K. Barnes said. “At the upcoming InfoComm Show, we will launch an entirely new technology and product range that will usher in a new era for TV One.”
Magenta CEO Keith Mortensen: “TV One’s combination of its proprietary CORIO scaling technology, unique products and solid growth is a perfect fit with Magenta. The synergy between the two organizations is remarkable and TV One fits nicely into Nortek’s Pro AV strategy. Magenta plans to leverage TV One’s global sales network in order to enhance the market penetration of our products. The recent introduction of Voyager, Magenta’s all-format fiber optic-based signal distribution platform, expands our infrastructure product range significantly and is a perfect match with TV One’s soon-to-launch video processing range.”
The two Companies will jointly exhibit at InfoComm in Orlando, June 15-17, 2011.
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