FIBARO Acquired by Nice S.p.A.
Nice S.p.A., an Italian international home automation and home security company, acquired FIBARO, a brand in the global smart home market. The transaction, which was public as of Friday, July 13, is valued at $73 million and includes the entire share capital of Fibar Group S.A. including its U.S. 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, the company described in a press release. 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, earning FIBARO the reputation of an innovator in the fields of both smart home solutions and the Internet of Things.
Nice Group is a leading international home automation and home security company with headquarters based in Italy. The company 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. Nice Group 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,” said 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. We’re very excited about this venture and how our combined solutions and technologies will enhance both product portfolios.”
FIBARO has a complete range of integrated smart home products including the FIBARO Home Center hub, award-winning multifunction sensors, and innovative scene controllers among other devices across the ecosystem. FIBARO 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, valued at $73 million, is Nice Group’s biggest investment to date in the smart home and IoT market. In April 2018, Nice also acquired abode Systems Inc., an American company that specializes in complete home security and automation solutions that offers professional-grade security with no contracts or required monthly fees.