Control4 acquired by Snap One
SnapAV and Control4 Corporation announced a merger agreement in May 2019. Under the deal, SnapAV will purchase all outstanding shares of Control4 for $23.91 in cash, valuing the company at $680.0 million. This also represents a 40.0% premium over Control4’s closing price the day before the deal was announced. The deal closed in August 2019. The new company will remain private, as SnapAV’s majority shareholder, private investment firm Hellman & Friedman, will remain the majority shareholder of the combined company
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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