Global Home Automation Player Nice Group Acquires Fibaro
Nice Group, based in Italy, has purchased Polish smart home system manufacturer Fibaro for $73 million, expanding its presence in the global smart home market.
CHICAGO — Polish smart home system manufacturer Fibaro has been acquired by Nice Group, an Italian home automation and home security company, for $73 million.
The transaction includes the entire share capital of Fibar Group S.A., including its Chicago-based subsidiary.
Founded in 2010, Fibaro has established itself on six continents and in more than 100 countries as one of the most advanced wireless systems for the smart home, according to an announcement. As the first smart home manufacturer to introduce an entirely wireless home automation system, the company has been constantly developing its product portfolio and adding new functionalities since inception.
Nice Group, based in Oderzo, Italy, provides comprehensive integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security for residential, commercial and industrial buildings. The firm sells its products in more than 100 countries through 30 subsidiaries, dozens of distributors, and has 12 production plants located around the world.
“We’re thrilled to join forces with Nice, a company that shares our values and passion to further innovative work on our smart home system and other IoT solutions,” states Maciej Fiedler, CEO of Fibar Group S.A. “Since the founding of Fibaro, we’ve been driven to design and build an intuitive and functional system for the smart home. We were looking for an investor that would allow our company to develop the way we planned, as well as provide us with the necessary resources to further our R&D research and benefit from our advanced technical know-how.”
Fibaro has a complete range of integrated smart home products including its Home Center hub, multifunction sensors and scene controllers, among other devices across the ecosystem. The company plans to continue developing products for the smart home and leveraging key technologies through improved integrations with existing Nice product lines while gaining access to a wide distribution network as well as greater R&D production capabilities.
The transaction is said to be Nice Group’s biggest investment to date in the smart home and IoT market. In April, Nice acquired Abode Systems, which was founded in 2014 by former ADT executive Christopher Carney and launched on Kickstarter in 2015.
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