2GIG Technologies, maker of the Go!Control security and automation platform, has been acquired by Linear's parent company Nortek.
Photo credit: (Image courtesy 2gig.com)
Linear, a manufacturer of access control, emergency response and other security solutions for the residential and commercial markets, announced on Monday that it has closed on its acquisition of 2GIG Technologies.
According to a statement, 2GIG, which makes the Go!Control integrated security and automation system and is a major supplier to Vivint, will become a part of the security and control group within Linear. The acquisition was officially announced by Nortek, Linear’s parent company, in February and includes a five-year supply agreement with Vivint. The deal was finalized with Nortek purchasing all of 2GIG’s outstanding stock for $135 million on a cash and debt-free basis.
"Acquiring 2GIG positions Linear as one of the world's top-tier hardware developers and manufacturers in the rapidly growing residential security and home automation markets," said Michael O'Neal, president of Linear in the statement. "We're especially excited about the synergy between the brands since 2GIG offers products that can be leveraged by Linear and its dealers to grow their businesses. At the same time, Linear offers products that can expand and enhance the 2GIG home automation platform, potentially opening doors to new market opportunities."
In addition to the Go!Control platform, 2GIG also manufactures a wide range of wireless peripheral devices such as thermostats, panic buttons, keyfobs, glass break detectors, and carbon monoxide detectors.
"Adding 2GIG's technologies and products to the Linear portfolio strengthens our product pillars of security and control, access and integration, and health and wellness," said Duane Paulson, senior vice president of product and market development for Linear. "Our dealers and channel partners now have more choices."
According to the statement, 2GIG "will remain an iconic brand under Linear." Linear co-developed and has manufactured the Go!Control platform for 2GIG since the company was founded in 2007.
"This is an absolute perfect fit for 2GIG," said Lance Dean, 2GIG co-founder. "We've known Nortek/Linear from the very beginning. They've been an instrumental part of our success."