Digitech acquired by Home Tech.

Wednesday, September 1, 2004

BELLEVUE, Wash. - Digitech Home Systems, a residential integrator that recorded $7.4 million in revenue in 2003, has been acquired by Home Technologies.

Digitech, which was founded in 2000 as a low voltage installer and began delving into the electrical market in 2003, was looking to join forces with a larger organization to increase the company’s reach.

“Digitech has grown rapidly since its inception,” said Rick Flescher, the electrical manager at the company. “However, we could see that the industry was ripe for consolidation and believed that smaller operations would need to align with larger groups to survive.”

The acquisition of Digitech is the first such transaction for Home Technologies, which is using the deal as a springboard for its newly established growth plan. For Digitech, the deal opens opportunities for the company to work on larger projects.

“Home Technologies is encouraging continued growth and expansion,” Flescher said.

The home systems integrator, which currently employs 64 people, but is aggressively looking to hire additional personnel, changed its name to Home Technologies-Bellevue in the beginning of September to become aligned with its parent company.

No additional changes will be made as a result of the deal. Lee Travis, chief executive officer of Home Technologies, said few adjustments were necessary to bring Digitech in line with the company.

“Digitech, we believe, is the best and largest integrator in this market,” Travis said. “It is a great platform for us to build on.”But Travis did acknowledge that the transition period will determine any additional changes.