North Andover, Mass. — October 29, 2008 – InstallerNet, representing the nation’s largest network of consumer electronics service professionals, announced today that it has acquired Victory Technologies Inc. of Stoneham, Mass. The financial details of the transaction, which closed October 17, were not disclosed.
The acquisition clearly establishes InstallerNet as the leading installation solutions provider in the mobile electronics industry with more than 3,000 active software subscribers and members, and a client list that includes Alpine, Amazon, Audiovox, Best Buy, Circuit City, Costco, Crutchfield, Dual, Harman, JVC, Pioneer, RadioShack, Sony, Sirius/XM and Wal-Mart.
In addition, Robert Fields (Victory’s CEO) is named InstallerNet’s VP of Mobile Electronics and Kris Bulla (Victory’s President) will lead the company’s ProTeam expansion as Director of ProTeam Operations.
“We are looking forward to working with Bob, Kris and the rest of the Victory [Technologies] team. They have established great relationships within the industry that will help us grow,” said Anthony Frangiosa, InstallerNet CEO. Victory Technologies has developed a comprehensive database of vehicle and product information that is at the core of its popular Installation Excellence installer application, and last year received an Innovations Award for its Sales and Scheduling technology.
Subscribers to InstallerNet’s MAID vehicle software will have access to new information provided by its merging with Victory Technologies’ Installation Excellence database, further strengthening and enhancing the technical resources that the MAID provides to the mobile electronics industry. Current subscribers to Installation Excellence can gain access to the array of products and business opportunities afforded to InstallerNet retail partners.
“Combined with InstallerNet’s existing content and technology, we will be able to enhance all legacy applications while developing exciting new products and services in the future,” stated Robert Fields.
With this acquisition, the company will be able to reallocate resources to expand its in-home product and services offerings where it projects significant growth next year. Currently, more than 30% of InstallerNet’s membership performs both mobile and home installation services.
InstallerNet Inc. is an infrastructure support company providing installation solutions through services, technology, content, and logistics. InstallerNet offers multiple programs designed to accommodate the needs of the customer with flexible options and guaranteed satisfaction. The company’s InstallCard product represents pre-paid installation services and is supported by a nationwide network of professional consumer electronics installers. The company maintains a website at www.InstallCard.com for customers to activate and schedule their desired installation services. InstallerNet has proven installation solutions and has performed over 150,000 managed installations for its client partners. For more information, contact InstallerNet at 800-444-1644 or visit www.InstallerNet.com.