Alarm.com to acquire Piper from VC-backed Icontrol
Alarm.com Holdings Inc (Nasdaq: ALRM) has agreed to acquire Piper, an Ottawa-based designer and producer of a Wi-Fi-enabled video and home automation hub. The buyer will pay about US$140 million for Piper and another business unit from Icontrol Networks Inc. Alarm.com, a U.S. connected home and business platform, said the deal will contribute to revenue growth and enhance research and development scale. Redwood, California-based Icontrol, a connected homes solutions provider, has raised about US$95 million from Comcast Ventures, Intel Capital, Kleiner Perkins Caufield & Byers and other investors, according to Thomson Reuters.
23 June 2016•5 mins read
