Savant Gets $90 Million Investment
Private equity firm KKR has led an investment of $90 million in Savant Home Automation, acquiring about 35 percent of the company and valuing it at $215 million, the Wall Street Journal reported Tuesday night.
CEO William Lynch told the Journal that the company "plans to use most of KKR's investment to market the company's technology to new customers."
The move, which signals strong investor interest in the home automation category, comes ahead of next week's CEDIA Expo.
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