I am pleased to announce that Generac Holdings is acquiring Toronto based smart thermostat startup Ecobee for $770 million USD!
Ecobee is a pioneer in the smart thermostat market and has engineered solutions that optimize heating and cooling systems to deliver energy savings for homeowners.
They faced grueling competition from companies like Google/Nest, Honeywell, Bosch, and Mysa (who also just raised $20M from VCs), yet still captured a significant portion of the market and attracted the attention of energy technology solutions behemoth, Generac Holdings.
It’s hard not to draw parallels between what Ecobee has accomplished in the smart thermostat space, and what RYSE is setting out to acheive with SmartShades. Like Ecobee’s smart thermostat, the RYSE SmartShade offers convenience and comfort via voice control, scheduling options, integrability with smart home systems, and savings on energy costs.
Unlike Ecobee however, RYSE has the advantage of no direct competitors in the retrofit SmartShades market, and the ability to sell into any real estate asset class, from residential to commercial buildings – there are a lot of windows out there!
The smart buildings space is notorious for high mergers and acquisitions activity – Business Wire (a Berkshire Hathaway company) reported a whopping 232 acquisitions in 2019 and 226 in 2018!
With patented technologies that address a fast growing segment of the smart building industry, we continue to believe that RYSE will become an attractive acquisition target in the future.
ECOBEE TO BE ACQUIRED BY US-BASED GENERAC FOR $770 MILLION
SMART THERMOSTAT STARTUP MYSA RAISES $20.3 MILLION
INSIGHTS ON M&A AND INVESTMENTS IN SMART BUILDINGS