Fibaro Home Automation Acquired for $73M by European Controls Co.

Nice Group acquires Fibaro (Fibar Group S.A.), popular maker of Z-Wave sensors and smart-home hubs, shortly after acquiring Abode, a DIY security and home-automation company with professionally monitored alarm systems.

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Fibaro Home Automation Acquired for $73M by European Controls Co.

Italian controls company Nice S.p.A. acquires home-automation firm Fibaro, just a few months after acquiring Abode Systems, an up-and-coming home security and smart-home manufacturer.

Nice S.p.A. is on a smart-home tear. Today it acquires Fibaro, a popular maker of DIY/pro home-automation systems and Z-Wave sensors. Recently it purchased Abode, an up-and-coming manufacturer of DIY/pro security systems and ZigBee/Z-Wave IoT devices.

Based in Italy, Nice acquired Fibaro for €63 million ($73 million).

Nice is a leading manufacturer of motorized gates, garage doors, solar shading systems and parking systems with annual revenues of more than €350 in 2017.

Related: Abode is Most Promising Security, Home Automation Solution in a Long Time

We discovered Nice last year at CEDIA Expo 2017 as a newcomer to the U.S. smart-home channel. The company swore at the time it would be making a big play in the market. So far, it’s delivered.

In April of this year, Nice acquired a majority stake of Abode, an increasingly popular manufacturer of DIY-oriented security with no-contract professional monitoring. The company’s home-automation hub includes Z-Wave, ZigBee, Wi-Fi, cellular communications and a back-up battery.

CE Pro recently interviewed executives from Nice and Abode, and will provide more insight on Nice’s growing IoT portfolio shortly.