Market Overview

Control4 Acquires Ihiji to Deliver Industry's Most Robust Management Service Platform for the Connected Home

Share:

Combined team to empower professional integrators with a broad set of
monitoring and management tools and services to proactively support
connected home customers

Control4 Corporation
(NASDAQ:CTRL), a leading global provider of smart home solutions, today
announced the acquisition of the intellectual property and key operating
assets of Austin, Texas-based Ihiji, a leading provider of remote
management services for technical integrators servicing connected home
customers.

By combining two industry-leading network and device management
solutions -- BakPak from Control4 and Invision from Ihiji -- into one
unified service platform, Control4 will provide thousands of
professional integrators with powerful device monitoring and management
capability to efficiently and proactively support their connected-home
customers.

"Connected home opportunities are emerging globally, and their
individual performance, reliability, and resilience are foundational to
all successful installations. By combining Control4's BakPak, with its
strong network management capabilities, and Ihiji's Invision, with its
industry-leading device monitoring and management capabilities, Control4
can provide a set of unified cloud-based services to our dealers to
securely and efficiently monitor end-customer systems. Dealers will
receive alerts when performance concerns are detected; they can then
remotely identify the root cause and initiate resolution actions, all
without being on-premise. This will improve homeowner satisfaction
through prompt and preemptive service, in a time-saving and
cost-effective manner," said Martin Plaehn.

The joint team is already developing the unified cloud-based service
platform which will be made available in phases to all Control4 and
Ihiji dealers and their end-customers later in the year. The shared goal
is to operate a single integrated monitoring and services experience
that provides all dealers with complete visibility and control at the
network level, which would include over 2,000 third-party products, as
well as all Control4 and Pakedge smart home equipment. Today, Ihiji
works with the industry's leading manufacturers including: Araknis,
Belkin, Brocade, Cisco, Crestron, Dell, Denon, D-Link, Integra, Luxul,
Marantz, Netgear, Onkyo, Pakedge, Panamax, Russound, Savant, Sky, Sony,
SurgeX, Synaccess, Yamaha, and others, and those integrations will
continue to be central to the new unified management platform. The new
solution will also deliver a comprehensive view of every home and
customer to enable dealers to monitor, assess, remediate, and track
performance concerns associated with their customers' homes.

Today, Control4 will begin selling the previously named Ihiji APP-750
network appliance under its new moniker, the Pakedge NX-1, priced at US
$650 MSRP. Control4 also announces the elimination of all subscription
fees associated with the Ihiji Invision management service, making it
easier and more financially efficient for dealers to provide remote
management services to their end-customers.

"Ihiji and Control4 share the conviction that network and device
management capabilities are pivotal to every professional integrator in
order to best serve their connected home customers," said Stuart Rench,
CEO, Ihiji. "By providing all dealers with the ability to monitor and
manage thousands of devices, we are enabling them to detect and
remediate issues remotely – often before a customer is aware there is
even a problem. By combining with Control4, we can accelerate our plans
to deliver more robust capabilities to further drive dealers' success
and end-customer satisfaction."

The Ihiji product development and support teams are now part of Control4
and are working within the Company's networking group to continue
supporting existing Ihiji dealers, and to deliver the new unified
management platform later this year. All Ihiji dealers using Invision
will continue to be supported and are encouraged to continue utilizing
and installing Invision in new installations. Later this year, progress
releases towards the new unified and integrated service platform will be
made available to all Ihiji, Control4, and Pakedge dealers and their
installed customers through a software update process for supported
service appliance devices: APP-750, NX-1, NK-1, RK-1 and WR-1.

Control4 acquired certain intellectual property, development and support
teams, and inventory of Ihiji on December 22, 2017. The acquisition
enhances the network and device management platform of Control4, but is
not expected to contribute material direct revenue in 2018. In addition,
the Company anticipates that the direct operating costs associated with
the Ihiji acquisition, (consisting primarily of personnel related
expenses for development and support employees), will not be incremental
to its forecasted 2018 financial plan. The financial impact of the
acquisition was included within the Company's prior public financial
guidance.

For more information on Control4 visit www.control4.com.
For more information on Ihiji visit www.ihiji.com.

About Control4
Control4 (NASDAQ: CTRL) is a leading global provider of automation and networking systems
for homes and businesses, offering personalized control of lighting,
music, video, comfort, security, communications, and more into a unified
smart home system that enhances the daily lives of its consumers.
Control4 unlocks the potential of connected devices, making networks
more robust, entertainment systems easier to use, homes more comfortable
and energy efficient, and provides families more peace of mind. Today,
every home and business needs automation horsepower and a
high-performance network to manage the increasing number of connected
devices. The Control4 platform interoperates with nearly 11,000
third-party consumer electronics products, ensuring an ever-expanding
ecosystem of devices will work together. Control4 is now available in
100 countries. Leveraging a professional distribution channel that
includes over 5,500 custom integrators, retailers, and distributors
authorized to sell the full-line of Control4 products, Pakedge branded
networking solutions and Triad Speakers, Control4 is delivering
intelligent solutions for consumers, major consumer electronics
companies, hotels, and businesses around the world.

Forward Looking Statements
This
press release contains "forward-looking statements" within the meaning
of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, including but not limited to, statements regarding
Control4's possible future products and financial outlook. All
statements other than statements of historical fact contained in this
press release are forward-looking statements. These forward-looking
statements are made as of the date they were first issued, and were
based on the then-current expectations, estimates, forecasts, and
projections, as well as the beliefs and assumptions of management.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that are
beyond Control4's control. Control4's actual results could differ
materially from those stated or implied in forward-looking statements
due to a number of factors, including but not limited to, risks detailed
in Control4's most recent Annual Report on Form 10-K and subsequent
reports filed with the Securities and Exchange Commission, as well as
other documents that may be filed by the company from time to time with
the Securities and Exchange Commission. Past performance is not
necessarily indicative of future results. The forward-looking statements
included in this press release represent Control4's views as of the date
of this press release. The company anticipates that subsequent events
and developments may cause its views to change. Control4 has no
intention and undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. These forward-looking statements should not
be relied upon as representing Control4's views as of any date
subsequent to the date of this press release.

Copyright ©2018, Control4 Corporation. All rights reserved. Control4,
the Control4 and Pakedge logo are registered trademarks or trademarks of
Control4 Corporation in the United States and/or other countries. All
other names and brands may be claimed as the property of their
respective owners. All specifications subject to change without notice.

View Comments and Join the Discussion!