iDevices advised by WCP on its acquisition by Hubbell
iDevices®, a provider of connected home industry, has been acquired by Hubbell Inc. of Shelton, Connecticut for an undisclosed sum. With 2016 revenues of US$3.5 billion, Hubbell Incorporated operates manufacturing facilities in the United States and around the world.
iDevices will join Hubbell’s portfolio of brands that manufacture and sell electrical and electronic products for residential, commercial, industrial, and utility applications.
“Hubbell was born at the dawn of electricity, iDevices at the dawn of IoT (the Internet of Things),” says Chris Allen, CEO and founder of iDevices. “We are at the precipice of a revolution in technology that will forever change people’s lives and the way they interact with the world around them.
Today, we proudly join the Hubbell family and in so doing, solidify iDevices’ and Hubbell’s place in this revolution. Combining iDevices’ experience in developing and designing smart home solutions with Hubbell’s extensive expertise in manufacturing and distribution across residential, commercial and industrial markets will lay the perfect groundwork for a partnership in the Internet of Things (IoT) at a significant scale.”
iDevices is making IoT accessible to everyone with their premium line of Wi-Fi® and Bluetooth®-enabled products. With a comprehensive set of both plug-and-play and in-wall solutions, iDevices manufactures connected power, lighting, and climate control solutions for homeowners, professional installers, and builders alike.
Woodside Capital Partners served as the exclusive financial advisor to iDevices in this transaction. “From start to finish, Woodside Capital Partners provided the strategic intelligence, domain experience and IoT industry relationships to deliver a successful outcome,” said Chris Allen, CEO of iDevices.
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