CHARLOTTE, N.C. — Furthering its position as a complete one-stop shop for integrators, SnapAV announces that it will acquire premier networking solutions provider Access Networks. The deal is expected to close later this month.
The acquisition will broaden SnapAV’s networking portfolio with new products and managed services including system design, configuration, monitoring and support.
SnapAV already has the market leader in home networks with its Araknis brand, according to SSI sister publication CE Pro‘s 100 Brand Analysis Study. Araknis is used by 71% of top integrators, while Access Networks is the No. 2 brand with a 45% marketshare.
It was just four months ago that Hagai Feiner, founder and president of Access Networks, announced he was stepping aside from his role as CEO and handing over the reins to longtime chief sales officer Bryce Nordstrand. Feiner’s move was so he could pursue his other passions, which include real estate development.
The company was coming off its best year ever in 2020, driven by the demand for work from home network solutions due to the pandemic. Feiner tells CE Pro the negotiations for the sale of Access Networks to SnapAV began in earnest in January of this year.
“Adding Access Networks to the SnapAV portfolio enables our Partners to tackle any size commercial or residential network project,” says G Paul Hess, SnapAV chief product officer. “The pandemic has affirmed our belief that a solid network infrastructure is critical in any home or business. Access Networks complements our OvrC-enabled networking solutions including Araknis and Pakedge solutions and strengthens our partners’ ability to handle network deployments of any size for any need.”
SnapAV will soon integrate Access Networks solutions with the full family of existing products, including Control4, OvrC, Wattbox, Araknis, and Pakedge, to offer Access Networks deployments with more scale, better control and smart power built into the design, according to the company.
Access Networks products will be made available through SnapAV’s e-commerce site and network of local pro stores in the coming months.
“By joining the SnapAV family, we believe our combined strengths will accelerate our growth and ability to offer broader and more comprehensive service solutions for our partners.” says Nordstrand. “We’re excited to see how, together, Access Networks and SnapAV will equip our partners with more capabilities and confidence to grow their business in a way that they wouldn’t have been able to before.”
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