Legrand acquires Netatmo

by bold-lichterman

Founded in 2011 by Fred Potter, Netatmo develops a whole series of connected objects for the home. Like its weather station which measures the temperature, humidity or even the air quality inside a home or outside. The data collected by the sensors can then be viewed from a mobile application.

Netatmo has also developed B2B activities with its program of collaboration with construction industry “with Netatmo”, intelligent solutions that are integrated into the home infrastructure. Netatmo has thus co-developed alongside Legrand several solutions for managing the connected home, such as Céliane with Netatmo and Living Now with Netatmo.

In 2018, Netatmo employs nearly 225 people and achieves an annual turnover of around 45 M €.

Netatmo has raised 34.5 million euros since its creation, notably from Iris Capital. The Legrand group, which had taken a stake in 2015, decided to acquire Netatmo to strengthen its presence in the smart home market. It is also an opportunity to expand its base of connected products thanks to the 1.3 million active Netatmo products. The amount of the transaction was not disclosed.

Fred Potter, Founder and Chairman of Netatmo, will become Chief Technology Officer (CTO) of Legrand’s Eliot program, and will contribute to the design of Legrand and Netatmo connected solutions.

“The acquisition of Netatmo by Legrand fulfills the promise of the smart home and our ambition to see our solutions adopted by as many people as possible. Our teams will continue to develop new products and update existing products with the same care in order to provide the best smart home experience to our users. »Concludes Fred Potter