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Friendly Management Buyout Separates tvONE (Magenta Research) from Previous Owner Nortek
Erlanger, KY, USA Tue, 2015-09-01
ERLANGER, KY, August 6, 2015 - tvONE, long-time developer and supplier of high performance video processing equipment, has announced a friendly management buyout of the company from previous owner Nortek, Inc. The acquisition was completed July 31, 2015, with a new board of directors comprised of the tvONE management team; David Van Horn, David Reynaga and Andy Fliss, with continued active involvement of Frithjof Becker and Richard Mallett.
"We are extremely excited about independently driving the future of the company." Said Andy Fliss, Vice President, Sales and Marketing. "This management group intimately knows and cares about our co-workers," said Fliss, "and we are prepared to solidify tvONE's philosophical principles and chart a company business plan geared for growth and success."
tvONE CTO, David Reynaga, stated that, "We have the right building blocks and passion to deliver memorable customer experiences though innovative products and, we are absolutely committed to providing unrivaled service and support."
The company expects to operate smoothly through the transition with no changes in customer-related activity. David Van Horn, tvONE CFO, stated that, "The friendly MBO arrangement with Nortek has put tvONE in an excellent position to continue growth and success into the future."