Control4 Stock Surges After Buying Networking, Cloud Management Company Pakedge
Control4 acquired networking and cloud network-management company Pakedge Device & Software for about $32.7 million cash, the company confirmed Thursday. The next day, Control4 shares closed 22 percent higher at $8.08. “As more and more devices are connected in the…
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home, and as streaming services become more prevalent -- especially high-definition streaming services and video over IP -- the demand on the network becomes exponentially greater,” said Jeff Dungan, Control4 senior vice president-supply chain and business development, in a pre-briefing to us.