Margate-based AV manufacturer TV One has sold all of the company’s stock to a subsidiary of global manufacturer Nortek, Inc.

TV One specializes in video, audio and multimedia processing equipment, based on its proprietary CORIO video conversion technology.
The $26m sale includes all TV One’s wholly-owned companies in the US, UK, Taiwan and China. TV One will be included in Nortek’s Technology Products segment and closely aligned with pro-AV and digital signage specialist Magenta Research Ltd. The transaction was completed last month.

David K. Barnes, CEO of TV One, said: “We recently celebrated our 25th anniversary in the pro AV industry and have established a record of consistent growth, profitability and product innovation. At the upcoming InfoComm Show, we will launch an entirely new technology and product range that will usher in a new era for TV One. As part of the Nortek family of companies, I look forward to maximizing the opportunities that will take TV One to the next level. I personally look forward to being part of that continuing success.”

Magenta Research CEO, Keith Mortensen, added: “TV One’s combination of its proprietary CORIO scaling technology, unique products and solid growth is a perfect fit with Magenta.

“The synergy between the two organizations is remarkable and TV One fits nicely into Nortek’s Pro AV strategy. Magenta plans to leverage TV One’s global sales network in order to enhance the market penetration of our products. The recent introduction of Voyager, Magenta’s all-format fiber optic-based signal distribution platform, expands our infrastructure product range significantly and is a perfect match with TV One’s soon-to-launch video processing range.”