Nortek, Core Brands Merger Targets Smart Home Security, Entertainment
Nortek Security & Control (NSC) and Core Brands are merging to focus on the smart home and security markets. The combined company, known as NSC, will focus on residential and commercial control, security, entertainment, access and personal wellness markets, the companies say. Financial terms were not disclosed.
NSC’s flagship offerings involve the 2GIG security and ELAN control platforms, which are sold by a range of partners, dealers and home industry professionals. NSC President Mike O’Neal is running the combined business. Core Brands President Joe Roberts shifts to EVP of marketing and innovation for NSC.
NSC and its partners have deployed more than 4 million connected systems and over 20 million security and home control sensors and peripherals, the companies say.
NSC is no stranger to mergers and acquisitions. Melrose Industries and Nevada Corp. acquired Nortek announced for roughly $2.8 billion in cash in 2016.