Nice acquires FIBARO, one of the major player in the Smart Home, consolidating its global leadership position in the Home Automation and Home Security sector

July 13, 2018

The Italian company continues along its path of international expansion and, thanks to an even broader and innovative offer, is ready to seize  the opportunities of a segment with a high growth potential such as the “Smart Home”

Oderzo (Treviso – Italy), July 13th, 2018 – Nice S.p.A., the Italian international reference firm in Home Automation and Home Security, expands in the Smart Home sector and acquires FIBARO, a leading brand in the sector, which offers a true wireless, modular ecosystem for a connected, controlled and customized home suited to the user’s specific needs.

Founded in 2010 with headquarters in Poznan, Poland, in just a few years FIBARO has established itself on 6 continents and in over 100 countries as one of the most advanced wireless systems for the Smart Home, designing and producing devices with Z-Wave and HomeKit protocols in its facilities and research centers, with a view to utmost simplicity in installation, plug & play, the possibility of remote access and compatibility with third-party systems such as Apple HomeKit®, Z-Wave, Google Assistant®, Amazon Alexa® and Apple’s Siri®.

FIBARO’s competences will expand Nice offer in the area of home automation systems, to turn the vision of a completely connected home into reality, everywhere in the world. This will be possible thanks to the complementary offers of the two companies, which have in common the international strategy, the Design Thinking approach, the constant push towards technological innovation and, most importantly, the willingness of putting people at the center stage, developing solutions that are easy to implement and use.

FIBARO offers a complete range of integrated Smart Home products: from its “Home Center” gateways, which are the heart of the home and building management system, to the most advanced design awarded multifunction sensors, which monitor the indoor environment for factors such as flooding, fumes and presence of CO, including sensors that detect whether doors and windows are open, acoustic alarms and cameras. It also offers innovative heat controllers that optimize the temperature of the house and allow significant energy savings.

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FIBARO apps simplify remote control of the systems, such as home alarms, automation and sensor control.

The applications for smartphones and tablets are extraordinarily easy and intuitive, and are available from the App Store, Google Play and the web. Moreover, it is possible to control FIBARO devices by voice control, choosing among several virtual assistants, such as Google Assistant®, Amazon Alexa® and Apple’sSiri® which respond to voice commands and the user’s questions, enabling the management of lights, automation, cameras, heat controllers, sensors and scenarios in the home.

FIBARO sensors are adaptable and can be connected to smart systems and products of the most famous international brands, such as Abode, Sonos, Philips, D-Link, iRobot, making the home more comfortable, safe and eco-friendly. Access to the home and data are always protected by the most advanced encryption systems.

We are pleased to announce this important new deal for the Group”, commented Lauro Buoro, founder and Chairman of Nice S.p.A.. “It allows us to accelerate our growth by offering a portfolio of the most complete products in the Home Automation and Home Security sector, thus strengthening our position of leadership in world markets, characterized by the growing demand for connected solutions to allow consumers to have their own most innovative Smart Home. Nice and Fibaro are united by a drive for innovation and digitalization, as well as by a shared mission: to simplify the daily lives of people by offering an extraordinary, simple, friendly and secure user experience, in a domestic space for maximum comfort. Twenty-five years from the founding of Nice, we want to be the reference point in offering cutting-edge solutions on a global scale in the Home Automation, Home Security and Smart Home sectors”.

Maciej Fiedler
, CEO and Founder of Fibar Group S.A., commented: “We are happy to join a solid and successful company like Nice, in strong expansion in the international market. This will allow to reinforce our position through technological and commercial synergies. We believe that simplicity is the way to go: eight years ago, I made the decision to build a truly intuitive and functional system, for a welcoming home that is always by your side, wherever you go, thanks to the applications for smartphones, tablets and PCs to have constant information about and control over what is happening at home”.

On the basis of the agreements reached, Nice S.p.A. acquires the entire share capital of Fibar Group S.A., indirectly acquiring its subsidiaries as well.

The operation resulted in the payment, today, of consideration of Euro 63 million, partly financed through equity and lines of credit already available to Nice S.p.A. Furthermore, the sellers may receive additional consideration through an earn-out mechanism linked to the performance of Fibar Group S.A. in the years 2019, 2020 and 2021.

In 2017, Fibar Group S.A. generated revenues of around 114 million Polish zloty.

The Nice Group, which has production and distribution facilities and research and development centers in more than 20 different countries, with a headcount in 2017 of more than 1,500, 2017 consolidated turnover of Euro 325 million and adjusted EBITDA1 of Euro 52.4 million, helps spread awareness of Italian excellence in more than 100 countries worldwide, which have chosen high quality home automation solutions that masterfully combine technology, design, innovation and ease of use. Nice has also recently acquired Abode Systems, Inc., an American company specialized in offering smart solutions for home security and integrated Home Automation.

Nice S.p.A. was assisted with closing by Banca IMI (Gruppo Intesa Sanpaolo) for the financial aspects and by an Italian and Polish team from the Clifford Chance law firm for all legal aspects. The acquisition is considered as “non-significant” under the terms of article 71 of the Issuers’ Regulation and the criteria pursuant to Annex 3B of said Issuers’ Regulation.