Legrand has acquired its portfolio company Netatmo for an undisclosed amount, three years after the corporate led the smart home device maker's $32m series B round.
France-based smart home device producer Netatmo has agreed to an acquisition by one of its existing shareholders, building infrastructure services provider Legrand, for an undisclosed sum.
Founded in 2011, Netatmo markets a range of internet-of-things (IoT) devices such as smart thermostats and cameras. Its platform can also automatically open and close windows based on temperature, presence of a high amount of CO2 or rain.
The company has co-developed several connected home management systems with Legrand, including Céliane, which is aimed…
