Resideo Technologies, a manufacturer and distributor of technology products, and Snap One have announced a definitive agreement for Resideo to acquire Snap One for a value of approximately $1.4 billion.
This deal will be inclusive of net debt and upon closing, Snap One will integrate into Resideo's ADI Global Distribution business. The transaction will combine ADI's position in security products distribution and Snap One's capabilities in the smart living market and Control4 technology platforms. Resideo and Snap One's integrators will have access to Snap One's e-commerce and integrator support platforms and ADI's 195 stocking locations and digital capabilities.
The transaction is valued at approximately $1.4 billion, including net debt of Snap One at the closing of approximately $460 million. The transaction is expected to be completed in the second half of 2024, and is subject to regulatory approvals. The transaction has been unanimously approved by the Boards of Directors of Resideo and Snap One. Private investment funds managed by Hellman & Friedman, holding approximately 72% of the outstanding common shares of Snap One, have executed a written consent to approve the merger, thereby providing the required stockholder approval for the transaction.