ABB acquires German smart home specialist Eve
ABB has acquired Munich-based Eve Systems. This acquisition makes ABB a leading provider of products for safe, smart and energy-efficient buildings.
ABB has acquired Eve Systems GmbH. Financial details of the transaction were not disclosed. Founded in 1999, the specialist in products for a smart home is based in Munich and has subsidiaries in Europe and the US. It employs a total of around 50 people.
With this acquisition, ABB becomes a leader in Matter and Thread, the new standard for smart home connectivity, according to a media release. The wireless protocol is supported by all major technology companies.
It said Eve’s complementary product range, which is tailored to the retrofit market, will allow ABB to deliver solutions for safe, smart and energy-efficient buildings faster. ABB said the acquisition comes at a time when demand for smart home technology is increasing in response to growing consumer interest in energy efficiency and as regulators look to incentivise retrofitting of existing buildings. After all, they account for almost 40 per cent of global carbon emissions.