Allegion acquires IoT cloud company Yonomi
Allegion announced it has acquired privately-held Yonomi. The company was founded in 2013 and created “an agnostic smart-home ecosystem that automatically discovers and coordinates devices,” according to statement announcing the aquisition. Yonomi’s products are currently used in more than 150 countries.
Allegion’s CTO Vince Wenos said that Yonomi’s intellectual property is a good match for Allegion’s strategic objectives. “Yonomi’s patented technology and technical capabilities will help accelerate Allegion’s vision of seamless access and enhance the breadth of our software development capabilities,” Wenos said in a statement. “It also opens avenues for integration with leaders in home and enterprise solutions for the IoT – supporting our ‘partner of choice’ strategy.”
He added, “We are a customer of the Yonomi platform, ourselves, having embraced Yonomi ThinCloud technology as a part of our residential smart deadbolt ecosystem. This, too, makes us a firm believer in Yonomi solutions and, especially, the team behind them.”
Yonomi’s CEO Kent Dickson will become vice-president and general manager of the Yonomi business unit within Allegion. Allegion has been an investor in Yonomi since 2017.
“This is an exciting moment in time for the Yonomi family and our customers,” Dickson said. “As an early provider of IoT solutions, Allegion truly understands the value of connected ecosystems and shares an important role in progressing smart-home solutions through its industry-leading brands like Schlage. In addition, Allegion has been a significant partner of, and investor in, our company, and this acquisition provides more capital and capacity for growth of our existing technologies and platforms.”
Yonomi employs nearly 25 people at its operations in Boulder, Colo., and Austin, Tex.
Terms of the transaction were not disclosed.