North Andover, MA - InstallerNet has acquired Victory Technologies Inc., the company has announced.
The financial details of InstallerNet's acquisition of Victory, which is based in Stoneham, Mass., were not disclosed. The deal was completed on Oct. 17.
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, Victory's chief executive, Robert Fields, has been named InstallerNet's vice president of mobile electronics. Victory's president, Kris Bulla, 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 team," said Anthony Frangiosa, InstallerNet's chief executive. "They have established great relationships within the industry that will help us grow. 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 at International CES 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, which further strengthens and enhances 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," Fields said.
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 percent of InstallerNet's membership performs both mobile and home installation services.