11:25 AM EDT, 06/14/2024 (MT Newswires) -- Resideo Technologies ( REZI ) said Friday it has completed the acquisition of Snap One ( SNPO ) for about $1.40 billion in cash.

The acquisition of Snap One ( SNPO ), which will be integrated into Resideo's ( REZI ) ADI Global Distribution segment, is expected to result in annual synergies of roughly $75 million by 2027, Resideo ( REZI ) said.

The company said it intends to update its 2024 annual guidance to reflect the acquisition during its second quarter earnings call due early August.

Price: 19.36, Change: -0.71, Percent Change: -3.54