Legrand Acquires NuVo Technologies
Legrand, North America Enhances Its Position in the Home Audio Market with NuVo's Award Winning Audio Systems
WEST HARTFORD, Conn., Nov. 15, 2012 /PRNewswire/ -- Legrand, North America today announced that it has acquired NuVo Technologies, LLC (NuVo), a company based in Hebron, Kentucky and a recognized leader in whole home audio solutions. NuVo will continue to operate as an independent business within Legrand's Home Systems division and focus on home audio markets under the NuVo brand name.
The acquisition is consistent with Legrand's proactive strategy and business objective to acquire market leading companies that complement its product line portfolio. The addition of NuVo's high quality multi-room audio systems strengthens Legrand's significant audio offering across all of its professional channels.
"The acquisition of NuVo is of strategic importance as it provides us with a leading position in the whole home audio market. We are now able to overtake other industry players and rapidly bring affordable, easy-to-integrate audio solutions to market," said John Selldorff, president and CEO of Legrand North America. "These include systems that are intuitive, plug 'n play and user friendly. NuVo also strengthens our product lineup with its wireless audio distribution technology. This means we can provide consumers with better integrated home audio systems and wider choices of both wired and wireless products. NuVo Technologies places Legrand's home systems offering in a different league. We now bring together the best in all core subsystems."
NuVo and Legrand will leverage their combined technologies to deliver new, best-in-class stand-alone audio systems as well as sub systems of Legrand's home automation solutions. NuVo will contribute expert knowledge in the home audio market which is based on an 85 year pedigree of being a worldwide innovator of a listening experience that transcends other commercially available audio equipment. With its expansive global reach throughout the Custom Electronics Installation industry, NuVo further enhances Legrand's overall network of dealers and distributors.
"Being acquired by Legrand provides us with a vast array of upwards potential," said David Rodarte, President of NuVo. "It allows us to take advantage of a number of important opportunities in key areas, including Legrand's already well established relationships. They will provide us with the opportunity to utilize their vast resources in both people and technological capabilities that will catapult us into the next generation of audio delivery. Additionally, we gain access to a brand that is universally recognized and trusted in the electrical and home technology industries."
Both NuVo and Legrand's customers will derive maximum benefit from the acquisition including an ongoing commitment to exceptional customer service. They will also receive enhanced choices and expanded solutions in home systems and the audio market including content source, mobility and overall quality sound experience.
Both companies will continue to value both their employees and their intellectual capital. The acquisition will see the NuVo leadership team remaining in place and will provide NuVo employees with a wider choice of global career opportunities and ensure that they continue to thrive as a part of Legrand.
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value and acquisitions are prime vectors for growth. Legrand reported sales of $5.8 billion in 2011. Legrand has a strong presence in the North American market, with a portfolio of well-known product lines that include Cablofil, Electrorack, Middle Atlantic, On-Q, Ortronics, Pass & Seymour, Vantage, Watt Stopper and Wiremold. The company is listed on NYSE Euronext and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI and DJSI (ISIN code FR0010307819). www.legrand.us
About NuVo Technologies
Based in Hebron, Ky., just outside of Cincinnati, NuVo Technologies is an award-winning innovator in the engineering, manufacture and distribution of multi-room digital audio distribution systems. NuVo focuses just as much energy on its products' value and ease of use as it does on their quality, design, energy efficiency and engineering, striving for the highest levels in all aspects. NuVo believes the music-enabled home is something that all consumers can achieve and enjoy. Its products can make it happen. Visit NuVo's comprehensive website at www.nuvotechnologies.com.
SOURCE Legrand, North America
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