Comcast, Alarm.com to buy Icontrol businesses
U.S. cableco Comcast confirmed Thursday that is has signed an agreement to acquire Icontrol Networks' Converge platform business for an undisclosed amount. Converge is used by Comcast's Xfinity touch screen panels which communicate with sensors and home automation devices.
According to a statement, attributed to Xfinity Home senior vice-president and general manager, Dan Herscovici:
“Icontrol has been innovating around the Internet of Things since it was founded in 2003, and built edge-based platforms and technologies that support connected home security for not just Xfinity Home, but for a number of leading MSOs. We look forward to continuing to serve customers using the Converge software platform and to growing Icontrol’s wholesale business by accelerating the development of new services and features.
“As this business becomes part of Comcast, we will strategically invest in its technology and technologists, so that we can deliver new features, products and services to both individual Xfinity Home customers and enterprise-level Converge customers, faster than ever before.”
The statement adds that employees at Icontrol’s Austin, Tex., location will form a Comcast engineering centre of excellence.
Other aspects of Icontrol’s business will be purchased by Alarm.com, specifically Connect, based in Redwood, Calif., and Ottawa-based Piper, which makes a Wi-Fi-enabled home automation hub. The deal is valued at approximately US$140 million and is expected to close by the end of 2016. Icontrol originally acquired Piper in 2014.
“This acquisition will enhance our research and development scale so that we can continue to deliver long-term value to our partners through innovative technology,” said Steve Trundle, president and CEO of Alarm.com, in a company statement. “We look forward to welcoming the Icontrol team and to building upon the solid relationships within their customer base.”