Nortek, the supplier of residential and commercial control and HVAC systems, expects to close the deal in May.
MiOS said it will continue to supply its Z-Wave platform for use in home-control systems by URC, which competes with Nortek’s residential brands.
Nortek’s investment in MiOS “will expand and accelerate Nortek's solutions for the connected home,” as well as provide MiOS with growth capital for product development and personnel, Nortek said.
Nortek will use the MiOS platform” to develop lifestyle-driven solutions for the connected home across many of our businesses, said Nortek president/CEO Michael J. Clarke. "MiOS will work primarily with our Broan-NuTone business as well as Nortek Security & Control and Core Brands to develop these solutions for several of our customer segments, including builders, electricians, and installing dealers."
MiOS mission: MiOS offers hardware and software solutions to control and automate homes and business, selling the solutions to third-party companies, including service providers such as telcos, CE suppliers, retailers, and the health care and property-management industries. MiOS also sells its own DIY Z-Wave-based home-control system under the Vera Control brand on its website and through other online retailers. MiOS is also readying a Vera Plus hub, which controls Z-Wave, ZigBee, Wi-Fi and Bluetooth smart-home products.
MiOS employs more than 80 people and has operations in North and South America and Europe.
One of MiOS’s customers is Core Brands competitor URC, which uses the MiOS platform for the wireless Z-Wave portion of its home-control systems.
MiOS will continue to supply URC, said MiOS president Lew Brown. “Our core strategy is unchanged,” he told TWICE. “We will continue to support our current OEM partners as well as new ones. We also will continue to grow our Vera brand and recently launched our new multi-radio VeraPlus.”
Nortek, he added, “has developed a highly respected platform, and we see great opportunities to leverage Nortek's products, brands, distribution channels and customer relationships to drive growth for both our companies."
Brands marketed by Core Brands to installing dealers include Elan, Niles, Proficient, SpeakerCraft, Sunfire and Xantech. Nortek Security & Control brands include the Linear brand of security, access control, video surveillance equipment, 2GIG home-security systems, and GoControl DIY home-control systems.