the enterprise-wide use of computers and significant expansion of the use of networking and collaboration technologies have all created significant opportunities for pro AV while also increasing the level of solution complexity. 3. Increased Convergence of AV and IT. This transition has been occurring for some time, but we have only recently seen its impact on M&A activity. With increasingly complex, integrated AV and collaboration solutions, the importance of IT expertise is more pronounced today than it has ever been. So how do these three foundational principles translate into M&A activity? They have all fueled the desire among commercial integrators to grow in scale and in scope, and this growth has largely been accomplished through M&A. Economic globalization has created the need for implementation and ubiquitous use of AV and collaboration technologies on a nationwide and global scale. The ability to efficiently service a customers' commercialintegrator.com needs in New York City, Tokyo and Tel Aviv requires the organizational scale that is most frequently achieved through M&A. The use of professional alliances and networks such as the PSNI Global Alliance and Global Presence Alliance have certainly helped integrators service customers internationally. But M&A has been the single, most important tool integrators have used in building and growing their global footprint. U.S.-based integrators including Diversified and AVI-SPL as well as U.K.-based integrator Kinly have all used acquisitions to build scale globally. And they are not alone. Integrators in Europe and the Pacific Rim are using acquisitions to gain access to growing foreign markets, including here in the US. The rapid evolution of AV technologies has also given rise to increased M&A activity. The resulting acceleration of technology refresh rates driven in part by the emergence of new and improved communication and collaboration technologies has driven the industry to new heights. Employers see the implementation and use of the latest technologies not only as a means to attract and retain talent but also to deliver gains in efficiency and productivity. The pro AV market is growing faster today than at any point in the recent past - this has attracted substantial amounts of institutional private equity capital looking to leverage industry growth by building and growing successful businesses, with the first acquisition being the " platform " company. Initial platform acquisitions frequently give rise to complimentary add-on acquisitions to build continuous value and drive long-term growth. This is the basis of the private equity model and the pro AV industry will be a long-term beneficiary. Further driving M&A activity is the convergence of AV and IT. As technology implementations continue to evolve from the traditional " hang-and-bang " projects to complex enterprise-wide unified communication and collaboration solutions, and complex FEBRUARY 2021 Commercial Integrator 29http://www.commercialintegrator.com