Resideo Technologies, Inc. (NYSE: REZI), a manufacturer and distributor of technology-driven products and solutions, has agreed to acquire Snap One Holdings Corp. (Nasdaq: SNPO), a provider of smart-living products, services and software to professional integrators. The transaction is valued at $1.4 billion. Upon closing, Snap One will integrate into Resideo’s ADI Global Distribution business.
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The transaction will combine ADI’s position in security products distribution and Snap One’s complementary capabilities in the smart living market and Control4 technology platforms, which is expected to drive increased value for integrators.
Together, ADI and Snap One will provide integrators an increased selection of third-party products and proprietary offerings. Snap One generated 66% of sales from proprietary products in 2023.
“This is the right next step to capture new opportunities to bring our solutions to market,” said John Heyman, CEO of Snap One. “The future of smart living is here. Demand for connected technology products continues to grow, and Resideo is the right owner to drive our expansion. We believe this transaction will deliver compelling value to our stakeholders and will create opportunities for our people and integrator partners.”
With 195 stocking locations and extensive digital capabilities, ADI Global Distribution is a distributor of professionally installed electronic security and life safety products for commercial and residential markets, serving a variety of adjacent product categories including audio visual, data communications and smart home solutions.
