ABB expands its portfolio with acquisition of Eve Systems

Jun 13, 2023, 6:12 AM UTC
3 mins read
ABB expands its portfolio with acquisition of Eve Systems
(Image credit: ABB)

ABB, the renowned automation and electrification firm, has made a strategic move by acquiring Eve Systems, a prominent smart home device maker known for its wide range of products compatible with Apple‘s HomeKit. The acquisition was confirmed by ABB on Monday, establishing the German Eve Systems as part of the Swedish-Swiss company headquartered in Switzerland.

Despite the acquisition, Eve will continue to operate from its existing office in Munich without any immediate organizational changes. This decision emphasizes ABB’s recognition of Eve’s success and expertise in the smart home industry. Eve’s product portfolio, including blinds, the Flare light, room sensors, and weather station, has gained acclaim for its comprehensive HomeKit integration.

Under ABB’s ownership, Eve will function as an independent brand within the Building and Home Automation Solutions portfolio, which resides in ABB Electrification’s Smart Buildings Division. This arrangement enables Eve to leverage ABB’s resources while maintaining its distinctive identity and operational autonomy.

One of the key motivations behind the acquisition is ABB’s interest in Matter and Thread, two emerging connectivity standards that hold great potential in the smart home sector. Matter is a unified standard that ensures seamless compatibility between accessories and major platforms, while Thread is a wireless connectivity standard enabling quick responses and energy efficiency. Eve has been at the forefront of adopting these technologies, solidifying its position as a leader in this space. ABB aims to leverage Eve’s expertise in Matter and Thread to drive the delivery of secure, intelligent, and energy-efficient homes and buildings, particularly focusing on the retrofit market.

The timing of the acquisition aligns with growing global initiatives to incentivize the retrofitting of existing buildings for improved energy efficiency. ABB recognizes the opportunity to leverage Eve’s products and knowledge to accelerate progress in this area. The acquisition strengthens ABB’s position as a leading provider of smart technology and innovation while reinforcing its commitment to delivering sustainable solutions.

While ABB’s long-term plans for Eve remain uncertain, its current approach demonstrates a commitment to preserving Eve’s operational independence. ABB’s president of Smart Buildings Division within Electrification, Mike Mustapha, highlights the game-changing nature of Matter and Thread, describing them as pivotal developments that enable seamless integration and convenient management of energy and surroundings.

Eve’s CEO, Jerome Gackel, expressed enthusiasm for the acquisition, emphasizing the alignment of Eve’s passion, agility, and experience with ABB’s international reputation and expertise. Gackel envisions further growth for Eve as a global leader in smart home technology, leveraging ABB’s support.

Markus Fest, the founder of Eve, sees the acquisition as validation of the company’s achievements in Matter, Thread, and overall smart home technology innovation. This acquisition marks a significant milestone in Eve’s journey, providing the resources and backing necessary to propel the company to new heights.

The financial details of the ABB acquisition of Eve remain undisclosed, leaving room for speculation about the magnitude and strategic implications of the deal. However, it is evident that ABB recognizes the immense value of Eve’s expertise, product portfolio, and market presence.

Eve continues to make notable advancements in the smart home industry, recently introducing an updated version of its popular Eve Flare, a portable smart light with Apple Home compatibility now integrated with Thread technology. With three devices already supporting Matter and plans for future firmware updates to expand compatibility, Eve remains dedicated to enhancing the smart home experience for its customers.

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