Legrand, of which the leader in Italy is BTicino, announced that it has signed a purchase agreement Netatmo, a French company specializing in related home items. Legrand has been a shareholder in Netatmo since 2015.
Netatmo was founded in 2011 and designs smart home products. Through its partnership "with Netatmo" with companies in the construction industry, Netatmo also recognizes smart solutions that integrate into the structure of the house.
In collaboration with Legrand, it has developed several solutions for managing the affiliated home, such as Céliane with Netatmo and Living Now with Netatmo, both well received in the reference markets.
The acquisition of Netatmo, whose brand will be integrated into the Group's portfolio, will enable Legrand to strengthen its presence in the smart home market and accelerate the development of Eliot, its connected solutions.
Legrand will enrich its offer with new categories of related products for the home, complementing their own and high potential.
The group will expand its range of connected products thanks to 1.3 million products assets in Netatmo.
The 130 engineers from Netatmo will make Legrand R & D teams available for their knowledge of artificial intelligence, program integration in products and user experience.
Fred Potter, Founder and CEO of Netatmo, will become Chief Technology Officer (CTO) in Legrand's Eliot program and will help create solutions between Legrand and Netatmo.
Netatmo is located in Boulogne-Billancourt (Paris area) and has approximately 225 employees and has a turnover of approximately 45 million euros.
Legrand is a global specialist in the building's electrical and digital infrastructure. H realized 2017 sales of more than 5.5 billion euros. The company is listed on the Euronext Paris platform and is part of the CAC 40 stock index.