TV One has announced the sale of one hundred percent of the Company’s stock to a subsidiary of Nortek. The sale includes all TV One related, wholly-owned companies in the US, UK, Taiwan and China. TV One will be included in Nortek’s Technology Products segment and closely aligned with Magenta Research LTD.
TV One CEO David Barnes commented: “We recently celebrated our 25th anniversary in the Pro AV industry and have established a record of consistent growth, profitability and product innovation. 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. As part of the Nortek family of companies, I look forward to maximizing the opportunities that will take TV One to the next level. I personally look forward to being part of that continuing success.”
Magenta Research CEO Keith Mortensen said: “The synergy between the two organisations 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.”