Nice, the Italian company behind security brands abode and Hysecurity, has acquired California-based Nortek Control for $285 million.
Nortek Control brands, including 2GIG, ELAN, Linear, MightyMule, Proficient, SpeakerCraft, Gefen, Xantech, Panamax, Furman, numera and IntelliVision, will enable Nice to provide a full suite of integrated solutions.
“There was very little overlap of the portfolio offerings between our 2 companies,” explains Luca Longhin, Nice North America president. “The goal is to be recognized as the leading brand, offering platform-based integrated solutions across smart home, security, and home and building automation markets.”
All brands previously under the Nortek Control portfolio will be integrated together with Nice brands into a single portfolio of brands, while all sub-brands will retain their existing identify, but will be under the Nice umbrella, according to Nortek Control CEO Christopher Larocca.
Business will be conducted as usual throughout 2022, though the combined team will begin collaborating on blending portfolios and operations so as to emerge as a fully integrated provider in 2023.
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