06/24/2009
COMPANY PURCHASES PORTION OF OLDFIELD'S

By Tim Christie-The Register-Guard

Vyanet will take over the local company’s whole-house technology sales and its security business

Vyanet Technologies, a Eugene company that started out selling security systems for homes and businesses in 1972, has continued to expand by acquiring Oldfield’s Appliance and Home Theater’s home technology business.

Eugene-based Oldfield’s will continue to sell and install single-room home theater systems, but will refer whole-house technology and security business to Vyanet, the companies said. Those technologies include whole-house audio systems, central vacuum systems, structured wiring systems and intercoms.

In addition to buying Oldfield’s whole-house technology sales and installation business, Vyanet also purchased Wolf Security Inc., the company that handled Oldfield’s residential and commercial security and monitoring business.

Joel Rimmer, Oldfield’s vice president, said the deal will allow Oldfield’s to “focus our business on our core strengths, which is major appliance and home theater sales and installation.”

Ron German, Vyanet’s president, said the Oldfield’s acquisition is the latest sign of his company’s growth from a security company to a complete home technology company.

“It’s been a very natural extension,” he said.

Last year, Vyanet purchased Diversified Electronics and merged with German’s former firm, Secure-Tech, acquiring its local security and home technology services. It also acquired Audio-Visual Security in Grants Pass.

Vyanet serves about 20,000 customers in Oregon, Washington, Idaho, California and Hawaii. The privately held company employs about 125 workers, including 25 in Eugene. Annual revenues are about $20 million.

The market for home and commercial security systems has been “pretty strong,” despite, or perhaps because of, the recession, German said.

“It seems like crime goes up when the economy goes down,” he said. “People realize they need to protect what they have.”

And the price for a home security system, which can be as little as $800 to $1,200, means it’s no longer something just the well-to-do can afford, he said.

The home-theater business, meanwhile, has declined with the slow-down in new home construction, he said. But German said he saw an opportunity to expand his company’s market share so it would be in a strong position when the economy bounces back.

Nationally, the home security industry, including home technology, generated $27.4 billion in revenues last year, an increase of 1 percent from 2007, marking the industry’s poorest showing in 10 years, according to Security Sales & Integration.


Vyanet Technologies

Headquarters: Eugene

Employees: 125, 25 of them in Eugene

Annual revenues: $20 million

Customers: 20,000 in five states

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