IOTAS, a provider of smart tech for multi-family residences, announced this week that it has been acquired by industry stalwart ADT.
Based in Portland, Ore., IOTAS primarily focuses on the smart apartment market and provides integration for a range of solutions, including smart locks, voice control, lights, thermostats, leak detection, switches, and more through a single mobile app.
“Our next generation smart properties will feature first-of-its-kind, in-app mobile protection for residents, coupled with more efficient management and more connected living. Through an ADT monitored SOS button integrated into our multifamily app, residents and staff will be protected by the communities they live and work in, no matter where they are,” IOTAS President and CEO Sce Pike said in a statement announcing the deal. The safety of their home will travel with them, providing peace of mind in dark parking garages, empty stairwells, ride-shares, and everywhere in between.”
“This merger is the first of its kind with the power of the leading smart apartment technology software being combined with the leader of smart home technology,” market research firm Parks Associates said in a blog post analyzing the impact of the deal. “This will all be possible with the adoption of the ADT Multifamily app which provides services to residents, property owners and prospects.”
According to a recent report from Parks, 95% of property managers believe that smart home devices can increase rental fees by between 5-30%. Property managers also reportedly found smart home use cases that prevent theft and burglary most appealing and a relatively high percentage also found the ability to monitor HVAC systems to prevent major emergencies and manage the use of lights in unoccupied units “very” appealing.