British Gas has today announced that they have acquired AlertMe in a deal worth £44 million, a figure that includes the 21 percent holding that British Gas already has in the company, making AlertMe worth a total of £65 million.
AlertMe was first founded in 2006 in order to create a connected home environment.
British Gas may be looking to use the acquisition of the company to further enhance it’s Hive home heating systems, which already allows users to connect their home solutions to the internet, remotely monitor security and other home information.
With AlertMe, British Gas will be looking to further its position in its market, and take their customer base over the current 150,000 customers that are already using the Hive home automation service.
Nina Bhatia, commercial director of British Gas explains their plans further:
“With access to new technology and skills, we’re strengthening our capability at British Gas to develop a family of products that will put people in control of their homes in a way that’s simply never been possible before.”
It will certainly be interesting to see how British Gas implements AlertMe’s products into the Hive service, hopefully adding in their security, smoke detectors and lights within its Hive offering.
The acquisition is expected to be completed by Q1 2015.