Nortek, the supplier of residential and commercial control and HVAC systems, expects to close the deal in May.
MiOS said it will continue to supply its Z-Wave platform for use in home-control systems by URC, which competes with Nortek’s residential brands.
Nortek’s investment in MiOS “will expand and accelerate Nortek's solutions for the connected home,” as well as provide MiOS with growth capital for product development and personnel, Nortek said.
Nortek will use the MiOS platform "to develop lifestyle-driven solutions for the connected home across many of our businesses, said Nortek president/CEO Michael J. Clarke. "MiOS will work primarily with our Broan-NuTone business as well as Nortek Security & Control and Core Brands to develop these solutions for several of our customer segments, including builders, electricians, and installing dealers."