ABB has acquired Eve Systems, a Munich-based provider of smart home products and services, with operations across Europe and the US.
The transaction will make ABB a "leader" in smart home products based on Matter and Thread, the new inter-operating standard and wireless connectivity technology, said ABB.
"The combined offer will accelerate ABB’s delivery of safe, smart and energy efficient homes and buildings through Eve’s extended complementary range of consumer-facing products tailored to the retrofit market," it added.
Financial terms of the transaction were not disclosed.
The acquisition comes as demand for smart home technology grows in response to increased consumer interest in energy efficiency, and with authorities looking to incentivise retrofitting of existing building stock, as buildings are said to account for almost 40% of global carbon emissions.
With around 50 employees, Eve is a pioneer in the new Matter connectivity standard which enables smart home products to be fully interoperable, irrespective of the manufacturer and user operating system, via Thread wireless technology.
ABB Electrification’s smart buildings division president, Mike Mustapha, said: “Our focus is on being the best and most comprehensive provider of smart technology and innovation for our global customers. Matter and Thread, in which Eve is a leader, is a game changing development for the uptake of smart home technology.
"It allows different devices and services to integrate flawlessly, intuitively, and securely, making it possible for people to manage their energy and their surroundings conveniently and safely."
