Legrand to acquire smart home manufacturer Netatmo

French company Legrand, which specializes in electrical and digital infrastructure in buildings, is to acquire smart home manufacturer Netatmo. Legrand was already a shareholder of Netatmo. The companies are not disclosing any acquisition amount.

Legrand acquires Netatmo to bring in that company’s expertise and integrates the brand into its own offering. According to the announcement, there are 1.3 million active Netatmo products in circulation and Netatmo employs 130 engineers with expertise in artificial intelligence and software integration into products.

Fred Potter, the founder and CEO of Netatmo, becomes the chief technological officer at Legrand’s iot division. Netatmo has long worked with construction companies through the ‘with Netatmo’ partner program. In this way, the company was already developing products with Legrand.

Netatmo, which is located in Boulogne-Billancourt near Paris, has a total of about 225 employees and an annual turnover of about 45 million euros. Legrand is a much larger company, with a turnover of 5.5 billion euros last year. It is not known what amount is involved in the acquisition. Both companies expect the acquisition to be completed next year.

Netatmo weather station