ABB acquired Eve Systems GmbH, a Munich-based provider of smart home products with operations in Europe and the United States. The transaction is intended to make ABB a leader in smart home products based on Matter and Thread, the new interoperating standard and wireless connectivity technology. 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. Financial terms of the transaction were not disclosed.
The acquisition comes as demand for smart home technology grows in response to increased consumer interest in energy efficiency, and with authorities looking to incentivize retrofitting of existing building stock, as buildings account for almost 40% of global carbon emissions.
Established in 1999, Eve Systems offers an extensive range of home automation, energy management, security and appliance monitoring devices. With its approximately 50 employees, ABB said in its release that Eve is a pioneer in the new Matter connectivity standard which enables smart home products to be fully interoperable, irrespective of the manufacturer and user operating system, via Thread wireless technology. Meeting the growing consumer demand for products that support energy efficiency, over half of Eve’s consumer products help households with aspects of energy management.
ABB Electrification’s Smart Buildings Division President, Mike Mustapha said in the release, “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.”
ABB says its acquisition is an s advance into the fast-growing smart home technology market as demand increases for building stock retrofitting to address needs for greater comfort, convenience, and increased energy efficiency. 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.