SnapAV and Control4 announce a "definitive merger agreement"-- one seeing SnapAV buying all Control4 shares in an all-cash agreement worth $680 million. In other words, it is less a merger and more, well, an outright acquisition.
According to the two companies, the deal makes a "highly complementary combination," bringing a one-stop shop with a complete portfolio of custom smart home, control and automation solutions. It also creates a single company with over 1200 employees, market-leading solutions, "exceptional" interoperability and channel platform, dealer-first programs, global distribution and financial resources to deliver value.