Alarm.com and Comcast Buy Key Chunks of Icontrol
COMCAST has acquired Icontrol’s Converge software platform and Alarm.com has bought Icontrol’s Connect and Piper business units for around $US140 million.
These are interesting moves at multiple levels. Comcast is the largest broadcasting and cable TV company on Earth, with $US75 billion in sales. Its new Converge software platform facilitates the Xfinity touch panel and back end servers’ communication with security sensors and automation devices, including cameras. Direct connection to a smart keypad and sensors is a key part of true cloud solutions.
Meanwhile, Alarm.com’s buy is interesting, too. There’s growth – Connect gives Alarm.com an interactive security and home automation platform that already supports 1.6 million subscribers, including ADT Pulse. And there’s the hardware side. Piper has a WiFi-enabled video and home automation hub that might allow Alarm.com to extend its vertical.
“This acquisition will enhance our research and development scale so that we can continue to deliver long-term value to our partners through innovative technology,” said Steve Trundle, president and CEO of Alarm.com. “We look forward to welcoming the Icontrol team and to building upon the solid relationships within its customer base.” ♦