Resideo Buys LifeWhere to Expand Remote Monitoring, Predictive Maintenance Expertise
LifeWhere’s remote monitoring and diagnostics solutions bridge the gap between homeowners and service experts, expanding the smart home as a service market.
AUSTIN, Texas — Resideo Technologies (NYSE: REZI) has acquired IoT startup LifeWhere, a Pittsburgh-based company that specializes in machine learning and analytics to predict potential failure on critical home appliances, such as water heaters, furnaces and air conditioners.
Terms of the transaction were not disclosed.
The LifeWhere service is said to provide detailed analytics required for professional contractors to dispatch technicians with the right skills to quickly repair the appliance before it causes a catastrophic failure.
“LifeWhere is a perfect fit for our portfolio of home comfort solutions and demonstrates our commitment to connecting consumers with the do-it-for-me professional contractor channel to provide a safe, healthy and efficient home, accessible to all,” states Mike Nefkens, president and CEO of Resideo.
Nefkens continues, “Through our network of 110,000 professional contractors, we are well positioned to help professionals conduct preventative appliance maintenance. By empowering our pros to diagnose and repair ‘behind the wall’ appliance issues proactively, they can mitigate the inconvenience of a catastrophic appliance failure.”
LifeWhere was founded in 2016. The company’s remote monitoring and diagnostics solutions bridge the gap between homeowners and service experts, expanding the smart home as a service (SHaaS) market.
The technology is said to complement Resideo’s broad portfolio of home comfort and home automation solutions. The company will look to strategically integrate the remote monitoring technology into its smart home offerings, according to the announcement.
The LifeWhere announcement marks the third acquisition by Resideo since it became a standalone, publicly traded company following its spinoff from Honeywell in October 2018. In May the company purchased the energy efficiency technology from Whisker Labs, and in March, Buoy Labs, a provider of a WiFi enabled smart home solution that tracks the amount of water used in a home.
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