ABB acquires Eve Systems

ABB has become a leader in “Matter and Thread”, the new smart home connectivity standard and wireless protocol backed by major technology players.

Its acquisition of Eve Systems meets accelerating demand for safe, smart and sustainable retrofitting of buildings driven by energy prices and climate policies, and includes EV charging.

Eve Systems is a Munich-based leader of smart home products with operations in Europe and the United States.

The combined offer will accelerate ABB’s delivery of safe, smart and energy efficient homes and buildings through Eve’s extended complementary range of consumer-facing products tailored to the retrofit market. Financial terms of the transaction were not disclosed.

The acquisition comes as demand for smart home technology grows in response to increased consumer interest in energy efficiency, and with authorities looking to incentivise retrofitting of existing building stock, as buildings account for almost 40% of global carbon emissions.

Established in 1999, Eve Systems has developed a reputation for the user experience and quality of its smart home products, which include an extensive range of home automation, energy management, security, and appliance monitoring devices.

Eve has about 50 employees.

ABB electrification’s smart buildings division president Mike Mustapha says ABB’s focus is on being the best and most comprehensive provider of smart technology and innovation for its global customers.