Control4 Corporation (NasdaqGS:CTRL) signed an agreement to acquire NEEO, AG for $15.6 million on January 11, 2019. The consideration includes $11 million in cash. Approximately 15% of the purchase price of $11 million, less the amount paid to satisfy convertible loan debt, will be held in escrow for up to 18 months to cover any of NEEO’s post-Closing obligations, including without limitation any indemnification obligations that may arise. In connection with this acquisition, Control4 also paid or assumed NEEO’s debt that is estimate to be approximately $4.6 million based on unaudited financial statements. In addition, Control4 committed to grant retention Restricted Stock Units (“RSUs”) in an aggregate amount of $1.5 million to certain employees of NEEO upon their acceptance of new employment offers. These RSUs will be granted pursuant to Control4’s 2013 Stock Option and Incentive Plan and will vest over three years. Control4 will become a wholly owned subsidiary of Control4, post completion. The NEEO product team, led by Raphael Oberholzer, will continue to work with Control4 engineering group in Salt Lake City. Oberholzer will take a leadership role in the development of Control4’s interaction devices. Control4 Corporation (NasdaqGS:CTRL) completed the acquisition of NEEO, AG on February 1, 2019. Matthias Staehelin, Moritz Jäggy, Florian Schaub and Christoph Enz of VISCHER AG acted as legal advisors to Control4 Corporation.