Snap One (Nasdaq: SNPO) has acquired Parasol, a remote support service based on OvrC, a platform for dealer partners that allows them to remotely manage, configure and troubleshoot devices on the network.
The acquisition will create new opportunities for Snap One partners to increase profitability, productivity and service levels to their customers, according to an announcement.
The acquisition builds on Snap One’s strategic investment in Parasol last year and affirms its commitment to supporting Partners across the entire project lifecycle, the company stated.
According to Snap One CEO John Heyman, bringing Parasol under the Snap One umbrella promises multiple benefits for its 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,” he said. “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 continue to support all existing customers and projects, and the company’s knowledge and experience will integrate into the larger Snap One team to aid development of future software, services and support products.
Ted Bremekamp, co-founder and director of operations at Parasol, said he sees significant potential for sales growth and further enhancements through closer coordination with Snap One’s various product development 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 stated. “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 billed as a rapidly growing remote support company enabling more than 500 integration companies worldwide. Using Snap One’s OvrC platform, Parasol is said to provide affordable remote management of systems that offer integrators the ability to remotely manage their installations, while at the same time earning recurring monthly revenue (RMR) for their services. According to the company, 70 percent of support issues are solved with a single interaction and agents are always available via phone, email, chat or text.
Snap One previously announced a strategic investment in Parasol in May 2021 that complemented its acquisition of Access Networks, offering networking and remote management solutions from a single supplier that operates more than 30 physical Snap One Pro Store locations across the United States.
“Parasol was created by a group of three [custom electronics] 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.”