Eve Systems acquired by giant multinational firm, ABB
Veteran Apple developer Eve Systems has been acquired by a Zurich, Switzerland-based top 500 multinational, ABB. The deal is likely to reflect Eve System’s deep bench of knowledge around the Thread and Matter standards.
ABB has designs on smart construction
The purchase may also make for a big increase in the number of Thread/Matter compliant devices being sold into construction and engineering markets, as that kind of electrical equipment is the meat and drink of ABB’s business.
In a press statement, the two companies explained the combined offer will:
“Accelerate ABB’s delivery of safe, smart and energy efficient homes and buildings through Eve’s extended complementary range of consumer-facing products tailored to the retrofit market.”
The announcement also stresses that one of the motivations to the deal is to find ways to retrofit existing buildings in order to promote energy efficiency. Smart systems, as we know, help optimize such efficiency.
What Eve had to say
Eve’s CEO Jerome Gackel said:
“The journey to making buildings even smarter has only just started, and I am as excited as anyone to see its potential fully realized.”
Eve’s Founder Markus Fest said:
“Our teams at Eve Systems have worked hard to earn our status as innovators in smart home technology by solving key challenges with a first mover advantage. We have collaborated closely with the technology community to develop and harness Matter and Thread technology and protocols. This acquisition is a validation of our achievements so far.”
What ABB says
ABB Electrification’s Smart Buildings Division President, Mike Mustapha said:
“Matter and Thread, in which Eve is a leader, is a game changing development for the uptake of smart home technology. It allows different devices and services to integrate flawlessly, intuitively, and securely, making it possible for people to manage their energy, and their surroundings conveniently and safely.”
50 becomes 105,000
The acquisition is effective immediately with Eve Systems becoming an independently operated brand in the Building and Home Automation Solutions portfolio within ABB Electrification’s Smart Buildings Division. Eve’s 50 employees join ABB’s 105,000 workers.
Financial terms of the transaction were not disclosed.
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