Nice S.p.A. acquires Fibaro for $73M

Nice S.p.A., an Italian-based provider of home automation and security technology, announced on Friday that it has acquired Fibaro for €63 million/$73 million as part of an effort to expand its footprint in the smart home market. The acquisition includes the entire share capital of Fibar Group S.A., including its U.S. subsidiary.

Founded in 2010 and based in Poland, Fibaro was the first smart home manufacturer to introduce an entirely wireless home automation system. The company’s products are now sold in over 100 countries.

Nice Group provides comprehensive integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security for residential, commercial and industrial buildings. The company sells its products in more than 100 countries through 30 subsidiaries, dozens of distributors, and has 12 production plants located around the world.

“We’re thrilled to join forces with Nice, a company that shares our values and passion to further innovative work on our smart home system and other IoT solutions,” Maciej Fiedler, CEO of Fibar Group S.A., said in a statement. “Since the founding of Fibaro, we’ve been driven to design and build an intuitive and functional system for the smart home. We were looking for an investor that would allow our company to develop the way we planned, as well as provide us with the necessary resources to further our R&D research and benefit from our advanced technical know-how. We’re very excited about this venture and how our combined solutions and technologies will enhance both product portfolios.” 

The transaction is Nice Group’s biggest investment to date in the smart home and IoT market. In April, Nice also acquired abode Systems, Inc., an American company that specializes in complete home security and automation solutions that offer professional-grade security with no contracts or required monthly fees.