ABB buys smart home accessories firm Eve Systems to strengthen its smart home technology portfolio
The more than 100-year-old Swedish-Swiss tech leader in electrification and automation, ABB, has announced the acquisition of Eve Systems, a Munich-based smart home products maker with operations in Europe and the United States. With this transaction, about which the financial terms have not been revealed, ABB acquires Eve’s smart home accessories and takes a leading position in the Matter and Thread-based smart home products market.
According to ABB, this strategic acquisition will allow the company to accelerate the delivery of safe, smart and energy-efficient homes through Eve’s extended complementary range of consumer-facing products tailored to the retrofit market. The two companies’ combined technology offerings, ABB says, will enable easier and more accessible management of energy, security and comfort in homes.
Reinforcing smart home tech | Credit: ABBMatter and Thread
Eve Systems’ innovation leadership in the Matter and Thread space, a new smart home connectivity standard and wireless protocol that is currently backed by major technology players was the main driver behind the acquisition and ABB claims that bringing Eve’s know how in the area onboard will further strengthen its smart building capabilities.
“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. It is an exciting point of growth for the industry and this acquisition brings our smart buildings commitment directly to the consumer,” said ABB Electrification’s Smart Buildings Division President, Mike Mustapha.
“Building on our heritage, pace of innovation and brand, we will now be combining our passion, agility and experience with ABB’s international calibre, reputation, and expertise to keep growing Eve as a global leader. The journey to making buildings even smarter has only just started, and I am as excited as anyone to see its potential fully realized,” said Eve CEO Jerome Gackel.
“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,” asserted Eve Founder Markus Fest.
The buyout, effective immediately, sees Eve Systems become an independently operated brand in ABB’s Building and Home Automation Solutions portfolio within its Electrification’s Smart Buildings Division. With its new brand capabilities ABB will be able to expand its current focus, moving from office buildings into the home.