ABB has announced the acquisition of Eve Systems GmbH, a Munich-based smart home products company. This acquisition positions ABB in the smart home market, leveraging the power of Matter and Thread, the latest interoperating standard and wireless connectivity technology.
The demand for smart home technology has been steadily increasing, driven by consumer interest in energy efficiency and government initiatives to promote retrofitting of existing buildings. With buildings accounting for approximately 40 percent of global carbon emissions.
ABB’s acquisition of Eve Systems represents its further investment into the smart home technology market, responding to the increasing demand for building stock retrofitting to enhance comfort, convenience, and energy efficiency. The acquisition will take immediate effect, with Eve Systems operating as an independent brand within the Building and Home Automation Solutions portfolio of ABB Electrification’s Smart Buildings Division.