British Gas has acquired AlertMe, the company responsible for the smart thermostats that form a key part of its Hive connected home solution, in a deal worth around £65m.
The deal will combine AlertMe's technology and expertise with British Gas' mass market infrastructure, expanding the company's Hive solution and its Internet of Things capabilities, and creating one of the UK's leading connected homes providers.
"This acquisition underlines our commitment to helping customers manage their homes, including their energy, more easily," said Nina Bhatia, commercial director of British Gas. "Already, we're the only business in the UK that can build the technology, develop the software, and provide expert in-home installation and service.
"With access to new technology and skills, we're strengthening our capability at British Gas to develop a family of products that will put people in control of their homes in a way that's simply never been possible before."
AlertMe was founded in 2006, and its products and services are already in place in over 200,000 homes. It also provides personalised energy services to 500,000 homes.
"AlertMe has been the pioneer in establishing and growing the Internet of Things commercially in the UK and USA," said Mary Turner, CEO of AlertMe. "We have created a market-leading Internet of Things platform and a highly experienced team of technologists and operational capability, which together have given us proven ability to serve mass market customers."