British Gas Buys UK Smart Home Pioneer AlertMe In $100M Deal
The connected home may still be a distant mirage for most average consumers, but in the meantime the technology is becoming big business. Today, British Gas announced it will buy AlertMe, a developer of platforms for running various domestic “smart” devices, in a deal worth £65 million ($100 million), lining up the energy company to provide smart services covering heating, lighting and more. The net cost to British Gas and its owner Centrica will be £44 million ($68 million), after accounting for an existing 21% investment in the company.