This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nortek Forms New ProAV Group In Its Technology Solutions Segment

Stocks in this article: NTK





PROVIDENCE, R.I., Nov. 19, 2012 /PRNewswire/ -- Nortek, Inc. (Nasdaq: NTK), a global diversified company with leading brands and innovative, technology-driven products and solutions for residential and commercial applications, today announced that it has combined the product and marketing strengths of its Gefen®, TVOne® and Magenta Research® brands in a unified ProAV Group within the Nortek Technology Solutions segment.

Based in Chatsworth, Calif., the newly formed group has additional U.S. offices in Connecticut and Kentucky, as well as international locations in Brazil, China, Germany, Hong Kong, Taiwan and the United Kingdom. The group has more than 25 years of combined experience in the ProAV, commercial and broadcast markets with over 5,000 direct customer accounts and multiple distribution partners in the U.S and worldwide.

The group will be led by Hagai Gefen, who has served as president of Gefen. John Dace, president of Magenta Research, will manage worldwide sales. Uri Ram, senior vice president of Gefen, will oversee operations, finance and logistics. David Barnes, president of TVOne, will be retiring after 20 years of outstanding service with the company.

"Aligning Gefen, TVOne and Magenta Research under a centralized management team will enable us to more effectively serve the professional AV market by offering a broader mix of commercial-centric products, strengthening our direct-to-integrators sales capabilities, and enhancing our dealer support," said Michael J. Clarke, Nortek's Chief Executive Officer. "Following on the heels of the formation of our Core Brands Group this summer, our decision to combine these three respected ProAV companies reflects our strategic focus on pursuing new opportunities to serve our dealers, channel partners and end users, while also leveraging economies of scale and enhancing our cross-selling capabilities."

"Operating as a unified entity will enable us to more effectively address the rapidly changing needs of the Professional AV market by combining the high-end video technology of TVOne and the large-scale system integration capabilities of Magenta Research with Gefen's leadership as an innovative solutions provider at the forefront of digital connectivity," said Sean Burke, Group President of Nortek's Technology Solutions segment. "Combining these three teams will position us to accelerate product development, launch new marketing programs and deliver additional support services for our customers and distribution partners."

About Nortek

Nortek* is a global, diversified company whose many market-leading brands deliver broad capabilities and a wide array of innovative, technology-driven products and solutions for lifestyle improvement at home and at work. The Company's broad array of offerings includes audio/video and security solutions, digital display mounting solutions, ventilation products such as range hoods and bathroom fans, heating and cooling products, and air management systems.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs