FIBARO Acquired by Nice S.p.A.
Nice Group, a global leader in home automation technology, has acquired 100% of the shares of Polish smart home system manufacturer Fibar Group S.A.
Chicago, IL – July 13, 2018 – Nice S.p.A., the Italian international home automation and home security company, today announces continued expansion into the smart home category with the acquisition of FIBARO®, a leading brand in the global smart home market. The transaction, which was public as of Friday, July 13 is valued at €63 million/$73 million US and includes the entire share capital of Fibar Group S.A. including its US subsidiary.
Founded in 2010, FIBARO has established itself on 6 continents and in over 100 countries as one of the most advanced wireless systems for the smart home. As the first smart home manufacturer to introduce an entirely wireless home automation system, the company has been constantly developing its product portfolio and adding new functionalities since inception, earning FIBARO the reputation of an innovator in the fields of both smart home solutions and the Internet of Things (IoT).
Nice Group is a leading international home automation and home security company with headquarters based in Italy. The company provides comprehensive integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security for residential, commercial and industrial buildings. Nice Group sells its products in more than 100 countries through 30 subsidiaries, dozens of distributors, and has 12 production plants located around the world.
“We’re thrilled to join forces with Nice, a company that shares our values and passion to further innovative work on our smart home system and other IoT solutions,” stated Maciej Fiedler, CEO of Fibar Group S.A. “Since the founding of FIBARO, we’ve been driven to design and build an intuitive and functional system for the smart home. We were looking for an investor that would allow our company to develop the way we planned, as well as provide us with the necessary resources to further our R&D research and benefit from our advanced technical know-how. We’re very excited about this venture and how our combined solutions and technologies will enhance both product portfolios.”
FIBARO has a complete range of integrated smart home products including the FIBARO Home Center hub, award-winning multifunction sensors, and innovative scene controllers among other devices across the ecosystem. FIBARO plans to continue developing products for the smart home and leveraging key technologies through improved integrations with existing Nice product lines while gaining access to a wide distribution network as well as greater R&D production capabilities.
The transaction, valued at $73 million, is Nice Group’s biggest investment to date in the smart home and IoT market. In April 2018, Nice also acquired abode Systems, Inc., an American company that specializes in complete home security and automation solutions that offers professional-grade security with no contracts or required monthly fees.
Based in Poland and available in 100 countries, FIBARO is a leading manufacturer of residential IoT solutions, engineering innovative smart home devices. FIBARO opened its U.S. offices in 2014, taking their award-winning modern minimalist design and feature-rich platform to the growing U.S. smart home market. The FIBARO System, known as Home Center, is comprised of a hub and accessory devices using Z-Wave smart home technology. Most recently, Fibaro launched a new product line compatible with Apple HomeKit. All FIBARO products can be controlled and monitored from anywhere in the world via smart phone, tablet or computer.
Established in the early 1990s and listed on the STAR Segment of Borsa Italiana, Nice S.p.A. is international reference company in the Home Automation, Home Security and Smart Home sector, with a comprehensive offering of integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security, for residential, commercial and industrial buildings. The Nice Group has launched a strategic plan for geographic growth and the extension of its product portfolio and connected platforms, in order to offer a wide range of customisable, user-friendly options for the end user. It is also seeking to strengthen and expand on markets with high growth potential, enhancing and renewing its branding to compete on new market segments. Nice exports its products, which combine technological innovation and design, generating international revenues of Euro 325 million in 2017, more than 90% of the Group’s consolidated total.