FIBARO Acquired by Italian Home Automation Company Nice Group
Just shy of a decade in the industry, FIBARO is becoming a major piece of Nice Group's expansion into the smart home category.
FIBARO has been showing steady growth during its eight-year run, establishing itself in over 100 countries with its collection of smart home solutions. The Polish company has been adding smart home switches, plugs, and gesture-based software to their portfolio. They also boast compatiblilty with some of the more robust companies in the game such as Philips, Sonos, D-Link, Netatmo, and both digital assistants from Google and Amazon.
“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,” stated 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.”
Italian based Nice Group is an emerging international home automation and home security company that offers integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security for residential, commercial and industrial buildings.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.