Universal Electronics Inc. (NASDAQ: UEIC) has acquired US-based Ecolink Intelligent Technology Inc. for $12.4 million in cash plus incentive-based cash consideration to be paid over the five years. The deal allows UEI to extend its reach into traditional home security and consumer space, an areas that are actively served by Ecolink.
Home security and automation are getting too much attention these days, according to the latest data from ABI Research firm, the global sensor and device market for home security and automation is expected to grow from $1.4 billion in 2015 to $4 billion by the year 2019.
Ecolink is a wireless technology, sensing and home automation technology leader. The company has over 20 years of wireless engineering expertise in the wireless technology and home automation market. It has delivers a wide range of intelligent security and home automation components dedicated to redefining the overall home security experience.
Paul Arling, UEI's Chairman and CEO, said in a statement that: “We are very excited to bring the Ecolink team under the UEI umbrella. The team at Ecolink has some of the industry’s leading experts in the wireless sensor market and a track record of bringing creative, innovative and high performing products to market. Ecolink’s expertise in wireless security and home automation technology will bring a new level of compatibility to the industry to enable sensors throughout the home to work together seamlessly.”
Founded in 1986, Universal Electronics Inc. (UEI) is a leading provider of wireless control technology for the connected home. It designs, develops, and delivers innovative solutions that enable consumers to control entertainment devices, digital media, and smart home systems.
Image Credit: WN
Tuesday, August 11, 2015
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