French hardware startup Netatmo got acquired by the biggest manufacturer of switches and sockets in the world, Legrand.
Terms of the deal are undisclosed.Legrand and Netatmo already collaborated together on some products.
Back in 2017, the company announced that it would work with industrial groups to connect everything in your home, starting with Legrand and Velux.With Legrands Cliane with Netatmo switches and power outlets, you could build a house with a smart electrical installation from day one.
This way, you could have a wireless master switch near your entrance, activate some outlets using Amazon Alexa and control your home from Messenger.Our strategy is the connected home.
But there are some connected features that we cant sell to consumers because those products are sold to professionals directly, Netatmo founder and CEO Fred Potter told me at the time of the original announcement.Netatmos team is going to be integrated into Legrand.
Legrand plans to release more connected objects in the future.
Netatmo founder and CEO Fred Potter is becoming CTO of Legrands research development division.
According to the announcement, Netatmo was generating $51 million (45 million) in annual revenue.Netatmos first product was a weather station.
It works over Wi-Fi and was one of the first weather stations that you could check from your phone.More recently, the company released security products, such as a connected camera that identifies faces on the device itself, a similar camera that works outdoor and a connected smoke alarm.
Some people called Netatmo the Nest of Europe as the company also released smart thermostats and radiator valves.