Allegion (NYSE: ALLE), a leading global security products and solutions provider, has acquired privately held technology company Yonomi for undisclosed terms.
Yonomi, with dual headquarters in Austin, Texas, and Boulder, Colo., is an innovation leader in IoT Cloud platforms.
Founded in 2013 by building automation and enterprise Cloud computing experts, the company is said to be the first to create an agnostic smart home ecosystem that automatically discovers and coordinates devices.
Yonomi (pronounced You Know Me) solutions are used in more than 150 countries, and millions of IoT devices are connected to its platforms, according to an announcement.
Allegion Senior Vice President and CTO Vince Wenos says the acquired company also holds unique intellectual property that matches well to Allegion’s strategic priorities for accelerating growth through seamless access, innovative solutions and meaningful partnerships.
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“Yonomi’s patented technology and technical capabilities will help accelerate Allegion’s vision of seamless access and enhance the breadth of our software development capabilities,” Wenos continues. “It also opens avenues for integration with leaders in home and enterprise solutions for the IoT – supporting our ‘partner of choice’ strategy.”
Wenos adds, “We are a customer of the Yonomi platform, ourselves, having embraced Yonomi ThinCloud technology as a part of our residential smart deadbolt ecosystem. This, too, makes us a firm believer in Yonomi solutions and, especially, the team behind them.”
Yonomi CEO Kent Dickson will become vice president and general manager of the new business unit within Allegion. Dickson noted that Allegion has been an investor in Yonomi since 2017 and the acquisition was a natural evolution for the Yonomi business, which staffs more than 20 employees.
“This is an exciting moment in time for the Yonomi family and our customers,” Dickson says. “As an early provider of IoT solutions, Allegion truly understands the value of connected ecosystems and shares an important role in progressing smart-home solutions through its industry-leading brands like Schlage.”
Dickson adds that Allegion has been a significant partner of, and investor in, the company, and this acquisition provides more capital and capacity for growth of its existing technologies and platforms.
This article originally appeared on our sister publication Security Sales & Integration‘s website.
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