FIBARO Acquired by Nice S.p.A.
Nice S.p.A., the Italian international home automation and home security company, today announces continued expansion into the smart home category with the acquisition of FIBARO, a leading brand in the global smart home market. The transaction, which was public as of Friday, July 13 is valued at €63 million/$73 million US and includes the entire share capital of Fibar Group S.A. including its US subsidiary.
Founded in 2010, FIBARO has established itself on 6 continents and in over 100 countries as one of the most advanced wireless systems for the smart home. As the first smart home manufacturer to introduce an entirely wireless home automation system, the company has been constantly developing its product portfolio and adding new functionalities since inception, earning FIBARO the reputation of an innovator in the fields of both smart home solutions and the Internet of Things (IoT).
Nice Group is a leading international home automation and home security company with headquarters based in Italy. The company 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. Nice Group sells its products in more than 100 countries through 30 subsidiaries, dozens of distributors, and has 12 production plants located around the world.