CHARLOTTE, N.C., Oct. 24, 2022 (GLOBE NEWSWIRE) — Snap One Holdings Corp. (Nasdaq: SNPO) (“Snap One,” the “Company,” “we,” or “our”), a supplier of good dwelling merchandise, companies, and software program to skilled integrators, right this moment introduced the acquisition of Parasol (“Parasol”), a robust 24/7 distant assist service based mostly on OvrC, creating new alternatives for Snap One Partners to deal with operating their business whereas growing profitability, productiveness and repair ranges to their clients. The acquisition builds on Snap One’s strategic funding in Parasol final yr and affirms its dedication to supporting Partners throughout the whole mission lifecycle.
According to Snap One CEO John Heyman, bringing Parasol underneath the Snap One umbrella guarantees a number of advantages for our Partners. “Parasol has succeeded in popularizing a powerful remote service solution that helps professional integrators reduce response times, increase monthly service revenues, and improve client experiences with support,” Heyman stated. “Adding to our initial investment, a full acquisition demonstrates our confidence in the service offering and the growth opportunities it offers to Snap One Partners.”
Parasol will proceed to assist all current clients and tasks, and the corporate’s information and expertise will combine into the bigger Snap One group to assist improvement of future software program, companies and assist merchandise.
Ted Bremekamp, Co-Founder and Director of Operations at Parasol, sees important potential for gross sales progress and additional enhancements by means of nearer coordination with Snap One’s numerous product improvement initiatives.
“Snap One and Parasol have become close partners over the last year and half, and officially joining forces allows us to focus even more on innovation and collaborative product improvement to address Snap One Partners’ short- and long-term needs,” Bremekamp acknowledged. “We can help Partners of all sizes increase their workforce efficiency while creating new revenue streams and minimizing the need for cumbersome truck rolls that detract from focus on new projects and business growth.”
Parasol is a quickly rising distant assist firm powering greater than 500 integration firms worldwide. Using Snap One’s OvrC platform, Parasol gives reasonably priced distant administration of programs that provide integrators the power to remotely handle their installations, whereas on the identical time incomes recurring month-to-month income (RMR) for his or her companies. According to the corporate, 70 p.c of assist points are solved with a single interplay and brokers can be found 24/7/365 by way of cellphone, e mail, chat, or textual content.
Snap One beforehand introduced a strategic funding in Parasol in May 2021 that complemented their acquisition of Access Networks, providing trusted networking and distant administration options from a single provider that operates greater than 30 bodily Snap One Pro Store places throughout the United States.
“Parasol was created by a group of three CE Pro 100 integrators who understood how support could positively impact client experiences, as well as integrators’ quality of life,” Heyman concluded. “Improving our Partners’ quality of life – and giving them back some of their time – is something that they have told us that they really value. We’re thrilled to continue providing them with support through the acquisition of Parasol.”
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About Snap One
As a number one producer and distributor of good dwelling expertise, Snap One empowers its huge community {of professional} integrators to ship leisure, connectivity, automation, and safety options to residential and industrial finish customers worldwide. Snap One distributes an expansive portfolio of proprietary and third-party merchandise by means of its intuitive on-line portal and native department community, mixing the advantages of e-commerce with the comfort of same-day pickup. The firm gives software program, award-winning assist, and digital workflow instruments to assist its integrator companions construct thriving and worthwhile companies. Additional details about Snap One may be discovered at snapone.com.
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Gateway Investor Relations
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