For Immediate Release
Russound Announces the Sale of Colorado vNet
Colorado vNet changes ownership in seamless transition
NEWMARKET, N.H. – Release Date – Russound FMP, Inc., has announced the sale of Colorado vNet Corp. to a group of custom electronics industry veterans led by Mike Anderson. The agreement—effective immediately—will transfer all ownership and assets of Colorado vNet to the company formed by Anderson.
Under the new ownership, Colorado vNet will continue to offer its customers the same superior support and service throughout a seamless transition. Anderson takes over ownership of Colorado vNet after serving as Vice President of Sales and Marketing for Russound since 2011.
“Colorado vNet was a proven reliable solution for Russound dealers, and I've also seen how the brand has its own unique place in the market.” said Anderson “Colorado vNet integrators have needs unique to themselves and having the opportunity to set this company apart, under its own direction once again, is an opportunity to provide those integrators with the support they need.”
The sale of Colorado vNet and its whole-house control technologies will enable Russound to better serve its customers by focusing on the company’s core products within the multiroom audio category.
“We wish Mike well and our companies will be working closely together in the future. This move strengthens both companies.” said Charlie Porritt, CEO of Russound.
The Colorado vNet brand will continue to operate out of Loveland, CO in the coming weeks, with an official re-launch of the new brand scheduled for June of 2012.