British Gas Buys UK Smart Home Pioneer AlertMe In $100M Deal

The connected home may still be a distant mirage for most average consumers, but in the meantime the technology is becoming big business. Today, British Gas announced it will buy AlertMe, a developer of platforms for running various domestic “smart” devices, in a deal worth £65 million ($100 million), lining up the energy company to provide smart services covering heating, lighting and more. The net cost to British Gas and its owner Centrica will be £44 million ($68 million), after accounting for an existing 21% investment in the company.
In addition to being an investor, British Gas was a user of its services, specifically in its Hive product, which lets you control your heating and hot water remotely. Hive is in use by 150,000 customers today.
Smart home technology may sound like a novelty to some, but it is more than that. It is a way of improving the efficiency and cost associated with energy use, and in many cases it can make everyday life simpler and easier for people.
Founded in 2006, Cambridge, UK-based AlertMe was an early mover in connected home technology — the idea of giving “dumb” services like your heating a network connection that helps calibrate and control them in a more efficient way. (And here’s an interesting fact: AlertMe was a partner of Google’s in one of the search giant’s earliest attempts to tackle the smart home, the now-defunct Powermeter.)

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