CHICAGO—Nice S.p.A., the Italian international home automation and home security company, recently purchased Poland-based FIBARO, a global smart home brand.
The transaction was public as of July 13 and was valued at €63 million ($73 million USD) and includes the entire share capital of Fibar Group S.A. including its U.S. subsidiary.
“FIBARO was actively looking for a business partner that could provide us not only with the financial resources, but also enable us further and faster growth both in terms of market expansion and product development,” Dominik Jęchorek, head of sales USA & Canada, FIBARO, told Security Systems News in an email interview. “The Nice Group’s offer was the one that corresponded perfectly with our needs: the product synergies are obvious and the exchange of solutions and technologies will result in the enhancement of both companies’ portfolios.”
Following the deal, FIBARO will maintain its core focus on the smart home market and developing its products, Jęchorek said, with a focus on North America. “Now, the short-term goal is to ensure seamless integration with the Nice Group products in order to provide our customers with a more deeply integrated smart home system. Through the acquisition we also want to strengthen our presence in North America: We see the home automation market as one with huge potential for further growth especially in this region.”
FIBARO’s products include its FIBARO Home Center hub, multifunction sensors, and scene controllers among other devices. Nice offers various integrated automation solutions, including some for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security, for residential, commercial and industrial buildings.
“The offers of the two companies complements each other: FIBARO offers a wide range of integrated smart home products and Nice Group’s portfolio is built on automation solutions for gates, garage doors, solar shading systems etc. The acquisition will enhance and expand the portfolios of both companies,” Jęchorek said.
The FIBARO purchase is Nice Group’s biggest investment to date in the smart home and IoT market, FIBARO’s announcement noted. In April, Nice also acquired abode Systems Inc., a U.S.-based company that specializes in home security and automation solutions.Topic: Residential Tags: Nice, FIBARO, Dominik Jęchorek