Allegion Partners With iDevices to Expand ‘Internet of Things’ Footprint
Alligion said the alliance is consistent with its strategy to drive growth and create shareholder value by investing in emerging technologies.
Allegion made an equity investment in iDevices, a provider of connected home devices, and formed a strategic alliance to expand its footprint in the Internet of Things (IoT) market.
DUBLIN – Through its Schlage brand, Allegion has made an equity investment in iDevices and formed a strategic alliance that will expand its footprint as a provider of security products and solutions in the growing Internet of Things (IoT) market. The amount of the investment was not disclosed.
Both Schlage and iDevices launched connected home solutions at the 2015 International Consumer Electronic Show (CES) in January. Schlage Sense is the company’s first Bluetooth-enabled lock, and the iDevices Switch is a smart power plug with networking capability that allows a smartphone to control devices plugged into the switch.
Allegion Senior Vice President and President of the Americas Tim Eckersley said the company will leverage iDevices’ technology platforms and IoT expertise to accelerate new product development for the future of home automation.
“With our latest connected products like Schlage Sense and Engage technology, we’re emphasizing the convergence of mechanical and electronic technologies to pioneer safety,” Eckersley said. “A strategic investment in iDevices, a premier IoT brand, strengthens our expertise in that convergence. We will continue to provide value to our customers with locks that are both strong and intelligent.”
iDevices CEO Chris Allen agreed the two companies’ strategic priorities align.
“This alliance has been a clear move for iDevices since the start of our relationship with Allegion. Both companies share a passion for bringing high-quality home products to market with a strong focus on creating unprecedented user experiences,” Allen said. “I truly believe this recent investment from Allegion and strategic alliance marks a major step toward revolutionizing the connected home.”
The partnership is consistent with Allegion’s strategy to drive growth and create shareholder value by investing in emerging technologies. Allegion and iDevices plan to enter into a joint technology agreement and Allegion will receive a minority stake in the company.
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