Nice Group continues to buy into home automation with the acquisition of Poznan-based Fibaro, one of the first creators of a fully wireless home automation system. The asking price? Close to €63 million.
"Yesterday’s transaction is a huge opportunity for Fibaro’s R&D departments in Poznan and Zielona Góra to further their innovative work on our smart home system and other IoT solutions” Fibaro says. “We decided to take up Nice Group’s offer as 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 tech know-how by using our solutions and technologies to enhance both product portfolios."
Based in Italy, Nice offers a wide range of integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security for residential, commercial and industrial buildings. It sells products in over 100 countries through 30 subsidiaries, and owns 12 production plants around the world. Fibaro is its second acquisition for 2018, following the April purchase of ZigBe/Z-Wave home control manufacturer Abode.
