Electrical manufacturer Legrand has acquired French hardware startup Netatmo, according to TechCrunch. Although the terms of the deal were not disclosed, TechCrunch reporter Romain Dillet says the companies have collaborated before back in 2017 to connect everything in the home. With the Netatmo brand integrated into Legrand’s portfolio, the company will continue to strengthen its presence in the smart-home market.
Netatmo’s team is going to be integrated into Legrand. Legrand plans to release more connected objects in the future. Netatmo founder and CEO Fred Potter is becoming CTO of Legrand’s research & development division. According to the announcement, Netatmo was generating $51 million (€45 million) in annual revenue.
Netatmo’s first product was a weather station. It works over Wi-Fi and was one of the first weather stations that you could check from your phone.
More recently, the company released security products, such as a connected camera that identifies faces on the device itself, a similar camera that works outdoor and a connected smoke alarm. Some people called Netatmo the “Nest of Europe” as the company also released smart thermostats and radiator valves.