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Smart Home Company Eve Acquired by Giant Group ABB

Eve Systems, a renowned smart home company and an early supporter of HomeKit, has recently been acquired by ABB, a prominent player in automation and electrification. This strategic move positions Eve as part of ABB’s Building & Home Automation Solutions division, signaling potential growth and opportunities for both parties involved.

Eve Systems, formerly known as Elgato Systems, started as a German startup and gained recognition for its reliable, affordable, and well-designed smart home technology. Initially focused on home monitoring systems, Eve expanded its product portfolio to encompass various smart home devices. With the sale of Elgato’s gaming division to Corsair, the remaining company rebranded as Eve Systems.

ABB acquire Eve smart

ABB, a multinational corporation with diverse interests, is particularly relevant in the context of its Building and Home Automation Solutions division, which primarily caters to high-end products for commercial properties such as offices and hotels. By incorporating smart automation, buildings can optimize energy usage, leading to significant cost savings. HVAC and lighting alone can account for almost half of the energy consumed in commercial buildings, and implementing smart automation can potentially reduce energy costs by 30 to 50 percent.

Despite its focus on commercial applications, ABB has also targeted consumers on a smaller scale. The company aims to make buildings intelligent, secure, and energy-efficient, ensuring people feel at home and can work productively in sustainable environments, ranging from modern family homes to luxury hotels.

The acquisition of Eve by ABB allows the conglomerate to tap into the mass consumer market, specifically leveraging the interoperable standard Matter and wireless connectivity technology Thread, rather than relying solely on proprietary protocols. This transaction positions ABB as a leader in smart home products based on Matter and Thread, enabling the company to deliver safe, smart, and energy-efficient homes and buildings through an expanded range of Eve’s consumer-facing products.

For consumers, the partnership between Eve and ABB holds the potential for accelerated growth, enhanced product offerings, and increased market penetration. With ABB’s financial resources and expertise, the company can expedite the development and deployment of smart home solutions. Eve’s CEO, Jerome Gackel, expressed enthusiasm about the collaboration, emphasizing the opportunity to combine Eve’s innovation and brand momentum with ABB’s international reach and capabilities, envisioning Eve’s ascent as a global leader in the industry.

However, it is worth considering the challenges that may arise from the integration of a nimble startup into a large multinational corporation. While ABB may focus on incorporating Eve’s technology into fully automated buildings, there is a concern that the agility and responsiveness of the startup could be hindered by bureaucratic processes and slow decision-making within a monolithic organization.

ABB’s acquisition of Eve Systems opens up possibilities for the integration of smart home technology into commercial and residential buildings. While the emphasis may shift more towards automated structures, there remains hope that ABB will continue to foster affordable and customizable technology for consumers who desire the freedom to mix and match devices according to their preferences.

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