Resideo Acquires LifeWhere to Expand Smart Home Services Portfolio.
M2 EQUITYBITES-July 2, 2019-Resideo Acquires LifeWhere to Expand Smart Home Services Portfolio
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2 July 2019 - Texas, US-based security solutions provider Resideo Technologies, Inc. (NYSE: REZI) has acquired Pittsburgh, US-based LifeWhere, utilising machine learning and analytics to predict potential failure on critical home appliances, the company said.
Terms of the transaction were not disclosed.
LifeWhere expands the company's portfolio of home comfort solutions and connects consumers with the professional contractor channel to provide a safe, healthy and efficient home.
The announcement marks the third acquisition by Resideo since its spinoff from Honeywell in October 2018. The technology complements Resideo's portfolio of home comfort and home automation solutions. Resideo will look to strategically integrate the remote monitoring technology into the company's smart-home offerings.
Resideo is a provider of critical comfort and security solutions primarily in residential environments, and distributor of low-voltage electronic and security products. Resideo is a USD 4.8bn company with approximately 13,000 global employees.
LifeWhere provides the detailed analytics required for professional contractors to dispatch technicians with the right skills to quickly repair the appliance before it causes a catastrophic failure.
The company's remote monitoring and diagnostics solutions bridge the gap between homeowners and service experts, expanding the smart home as a service market.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 2, 2019|
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