Nortek, owner of multiple commercial and residential technology brands, signed a definitive agreement to acquire 2GIG Technologies, a privately held supplier of residential security and home-automation products.
The acquisition will “further our investment in home security” and “position us to participate in the lower end home-automation market,” Nortek senior vice president and treasurer Ed Cooney told TWICE.
The acquisition will also open up cross-selling opportunities with Nortek’s commercial and residential brands, said Mike O’Neill, president of Nortek’s Linear business.
Linear, part of Nortek’s Technology Solutions Group of residential and commercial brands, is already a major supplier of wireless residential security systems, access control, intercoms, garage door openers, gate openers, and the like.
For its part, Utah-based 2GIG markets a self-contained home security and automation control panel, which was developed with the aid of Linear. 2GIG also sells wireless home security as well as home automation products, including home thermostats, alarms and wireless carbon-monoxide detectors.
2GIG supplies products to Vivint, one of the largest home-automation services companies in North America, Nortek noted. The acquisition agreement with 2GIG includes a five-year supply agreement with Vivint.
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