Netatmo, leading smart home company, acquired by Legrand
Founded in 2011, Netatmo creates simple and smart products for a safer and more comfortable home. The company has launched many devices and accessories in the field of smart home sold all around the world.
Today, Netatmo has nearly 225 employees and generates annual sales of around €45 million.
The acquisition of Netatmo, whose brand will be integrated into Legrand’s portfolio, will enable the Group to strengthen its presence in the smart home market, and speed up the development of Eliot, Legrand’s program for connected solutions:
- Legrand will enrich its offering with new, complementary and high-potential connected product categories for the home;
- The Group will expand its base of connected products thanks to Netatmo’s 1.3 million active products;
- Netatmo’s 130 engineers will bring their expertise in artificial intelligence, integration of software into products, and user experience to Legrand’s R&D teams. Fred Potter, Netatmo’s Founder and CEO, will become the Chief Technology Officer (CTO) of Legrand’s Eliot program, and will contribute to the design of connected solutions from Legrand and Netatmo.
Fred Potter, Netatmo’s Founder and CEO, says: “The acquisition of Netatmo by Legrand will help make smart homes a reality, along with our aim of seeing our solutions adopted by as many people as possible. Our teams will continue to develop new products and update existing products with the same care to offer our users the best smart home experience.”
Please find below the full press release announcing the acquisition.