A local home media company has expanded yet again with its second acquisition of a local competitor this year.
Livewire, which installs home media and automation systems, has acquired NSN Technologies from Richmond Alarm Company for an undisclosed amount.
In March, Livewire cut a deal to purchase Home Media, a 16-year-old business based in Midlothian.
This latest deal also marks the second time in two years that ownership of NSN Technologies has changed hands. Richmond Alarm acquired NSN, which has a 20-year history, two years ago.
Corey Boggs, operations manager for Richmond Alarm, said that when the company acquired NSN it was on the verge of closing. NSN primarily worked with home builders to wire homes for security systems, intercoms and home media.
“The owners wanted to get out,” Boggs said. “It was a good business but was going to take a lot of time and effort to keep it going.”
Boggs said Richmond Alarm decided to sell the company to Livewire so they could focus on their core business of alarm monitoring but still know that their NSN clients will be taken care of. Richmond Alarm will continue to monitor those homes with security systems installed by NSN.
Henry Clifford, owner of Livewire, said he was primarily interested in NSN’s book of business, which includes homebuilders that had worked exclusively with NSN.
“We move forward with an incremental increase in our business, and Richmond Alarm gets peace of mind knowing their book of business with NSN is taken care of properly,” Clifford said.
NSN had two full-time employees. Clifford said they are still in talks as to whether they will join Livewire, which has 16 employees.
A local home media company has expanded yet again with its second acquisition of a local competitor this year.
Livewire, which installs home media and automation systems, has acquired NSN Technologies from Richmond Alarm Company for an undisclosed amount.
In March, Livewire cut a deal to purchase Home Media, a 16-year-old business based in Midlothian.
This latest deal also marks the second time in two years that ownership of NSN Technologies has changed hands. Richmond Alarm acquired NSN, which has a 20-year history, two years ago.
Corey Boggs, operations manager for Richmond Alarm, said that when the company acquired NSN it was on the verge of closing. NSN primarily worked with home builders to wire homes for security systems, intercoms and home media.
“The owners wanted to get out,” Boggs said. “It was a good business but was going to take a lot of time and effort to keep it going.”
Boggs said Richmond Alarm decided to sell the company to Livewire so they could focus on their core business of alarm monitoring but still know that their NSN clients will be taken care of. Richmond Alarm will continue to monitor those homes with security systems installed by NSN.
Henry Clifford, owner of Livewire, said he was primarily interested in NSN’s book of business, which includes homebuilders that had worked exclusively with NSN.
“We move forward with an incremental increase in our business, and Richmond Alarm gets peace of mind knowing their book of business with NSN is taken care of properly,” Clifford said.
NSN had two full-time employees. Clifford said they are still in talks as to whether they will join Livewire, which has 16 employees.