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Snap One to become part of ADI Global as acquisition closes

Resideo Technologies has completed the previously announced acquisition of Snap One and will integrate it into its ADI Global Distribution segment.

The all-cash transaction was for $10.75 per Snap One common share, or a total transaction value of approximately US$1.4 billion, inclusive of Snap One net debt as of the closing.

“We are pleased to complete this transaction and excited to officially welcome the Snap One team to Resideo,” said Jay Geldmacher, Resideo’s president and CEO, in a statement.

“This is an important step in our ongoing transformation across Resideo as we focus on accelerating profitable growth. Snap One’s expertise serving smart living integrators and innovative Control 4 and home automation offerings immediately expand Resideo’s capabilities across security, audio visual and smart living markets. The combination better positions the business in attractive growth categories, adds new higher-margin proprietary products and services, and broadens ADI’s customer base. Resideo’s future is bright as we work to simplify the connected world, creating value for our customers and shareholders,” he added.