Nice Becomes the Main Shareholder of Silicon Valley-Based Abode, and Designs the Future of the Smart Home
Nice expands into the Home Security sector, announcing its entry as majority shareholder of Abode Systems, Inc., an American company specialized in the offer of a complete range of products and technological platform for end consumers, for a connected and secure home, easy to use.
Founded in 2014, Abode is a technological start-up, with registered office in Palo Alto, California, Silicon Valley. Abode offers smart solutions for home security and integrated home automation, combining the highest UL certified security standards with the option of professional monitoring service, in addition to the classic home automation hub with ZigBee, Z-Wave and additional protocols that can be integrated for a smart home. With a portfolio in excess of 15,000 customers operating in 27 countries with 100,000 connected devices, in 2017 Abode recorded revenues of approximately 7 million dollars on the strength of expandable monitoring services and hardware offering solid performance and smart integrations, making it one of the most appealing “DIY” security systems to the end user, easy to install and with an e-commerce store available on-line.
“It is a strategic operation for the Group,” declares Lauro Buoro, founder and Chairman of Nice S.p.A. “That will allow us to expand on our product range to include the Home Security sector for installers and end users, thereby strengthening Nice’s leadership position in USA and North America, a market that is enjoying growing demand for connected Home and Building Automation and Home Security solutions. This partnership represents important leverage in the direct dialogue of Nice with its end user, yet safeguarding the Business to Business distribution channels and services offered to professionals; it also offers up innovative opportunities of integration between various platforms and extraordinary, highly profitable cross-selling options with potential partners in the insurance sector, as well as the range of additional subscription services. Twenty-five years after Nice was founded, this is another step forward in the international growth process, in the portfolio of products and services offered by our group, characterized by a strong focus on digitalization, so as to become the point of reference in the supply of cutting-edge solutions on a global scale, in the home security and Smart Home industry.”
Christopher Carney, CEO and Co-Founder of Abode Systems, Inc., declares: “We are pleased to announce this partnership, and to become part of Nice, a solid global leader with our same cultural and strategic values. Nice's emphasis on innovation for technological solutions and the most advanced home safety products on the market is a great fit for our customers, partners, and employees. Abode has positioned itself as an innovative startup in the smart home security business market place. We have worked relentlessly with a grassroots approach to build products that are simple, flexible, reliable and robust, and always worked to keep our customers’ homes safe. We appreciate Nice’s focus on design and user experience; we look forward to joining forces to pursue innovation at the highest level and make Abode the most sought-after choice for home security on a global scale. I am confident that together we will build extraordinary projects in the future.”
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