Universal Electronics makes smart home bid with Ecolink acquisition
By Ben Munson for CEDMagazine: Universal Electronics Inc. (UEI) is strengthening its position in the smart home market by acquiring Ecolink Intelligent Technology, a wireless home security and automation specialist.
UEI is spending about $12.4 million in cash and incentive-based considerations over the next five years to acquire Ecolink’s assets.
Those assets include over 25 issued and pending patents, related intellectual property and Ecolink’s smart home, wireless security and home automation business.
Ecolink will become a wholly owned subsidiary of UEI and continue being operated and marketed under the Ecolink name.
For Ecolink, the acquisition likely means a significant boost in market penetration.
For UEI, the purchase means a stronger foothold in the smart home/home automation market that’s becoming part of many cable companies’ and telco’ businesses. Cont'd...
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