Home Technologies acquires Digitech

SSN Staff  - 
Thursday, July 15, 2004

July 15, 2004

BELLEVUE, Wash. - Home Technologies, a residential systems integrator, has acquired Digitech Home Systems.
The acquisition jump starts Home Technologies plans for growth, which seeks to build the company’s presence in the regional market. Officials said the acquisition represents a starting point for that initiative. Digitech, a privately held residential integrator started in 2000, had operating revenues exceeding $7 million in 2003.
In a prepared statement, Home Technologies chief executive officer Lee Travis said the company plans to build upon Digitech’s current business model for continued expansion throughout the Western United States.
As part of the agreement, Digitech will change its name to Home Technologies-Bellevue and will become a wholly owned subsidiary of Home Technologies.
The purchase price was not released in the stock and cash transaction.