Italian firm Nice S.p.A. takes majority stake in Silicon Valley-based abode systems

The international link-up of connected home products and services companies continued unabated in April, as Italian global home and building automation company Nice S.p.A. took a majority stake in Silicon Valley-based abode systems—a do-it-yourself smart home security start-up. According to the public transaction filing and Italian stock exchange listing, Nice will acquire 75% of abode systems, while the remaining stock will be retained by abode founders. This transaction comes on the heels of another European-American link-up, where Swedish conglomerate ASSA ABLOY recently acquired Silicon Valley-based August Home, the maker of the August Smart Lock. ASSA ABLOY also owns the storied Yale lock brand.

Abode, founded by former ADT executive Christopher Carney, launched its first products through Kickstarter in 2015. Designed with the DIY homeowner in mind, the company’s offerings combine professional-grade security with popular smart home features—including voice activation services—plus a home automation engine. Prior to the Nice relationship, abode had raised $2 million through crowdfunding and saw its user base rise to over 15,000.

“Abode was an early leader in the now well-defined do-it-yourself smart home security space,” said Christopher Carney, CEO and Co-Founder of abode systems, “and we’ve worked relentlessly with a grassroots approach to build a product that was simple, flexible, robust, and always worked to keep customer homes safe. The Nice group sees abode as an opportunity to leverage what we’ve built to grow their brands in North America and to allow us to expand and remain competitive as well as pursue global markets.”

Based in Oderzo, Italy, Spa offers a broad range of smart, integrated automation solutions to control gates, garage doors, parking systems, wireless alarm systems, solar screens, awnings, blinds, shades, and shutters for residential, commercial, and industrial buildings.

“It is a strategic operation for the Group,” said Lauro Buoro, founder and Chairman of Nice S.p.A., “which will allow us to expand on our product range to include the home security sector for installers and end users, thereby strengthening Nice’s leadership position in USA and North America—a market that is enjoying growing demand for connected Home & Building Automation and Home Security solutions.”

Nice S.p.A. is represented in the U.S. by Nice Group USA, which is based in San Antonio, Texas.

The newly-combined leadership team says abode plans to continue with its current product roadmap, including iota—their next generation home automation gateway with a built-in HD camera—as well as Apple HomeKit compatibility previously introduced at CES 2018.

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