Automation giant ABB acquires smart home device maker Eve

Confirmed by ABB on Monday, the purchase of the German Eve Systems brings the company under the ownership of the Swedish-Swiss ABB, based in Switzerland.

For now, Eve will operate out of its existing Munich-based office and the organization will remain "unchanged."

Eve is best known for its extensive HomeKit-supporting product portfolio, including blinds, its Flare light, room sensors, and weather station.

While owned by ABB, Eve will continue to operate as an independently-operated brand, under the Building and Home Automation Solutions portfolio within ABB Electrification's Smart Buildings Division.

According to ABB, the deal makes the company a leader in Matter and Thread, smart home connectivity standards and protocols that many companies in the space utilize.

ABB likely has minimal interest in Eve's line of direct to consumer products, but rather will hope to harnass the smart home accessory maker's knowledge around Matter and Thread.

Matter is the new unifying smart home standard that will allow accessories to work with all major platforms out of the box and Thread is a new wireless connectivity standard that allows for rapid response and low power usage.

Both technologies are in their infancy with Eve leading the way with an ever-growing number of products on the market. To ABB, the purchase will help it accelerate the "delivery of safe, smart, and energy-efficient homes and buildings" by using Eve products tailored to the retrofit market.

It is also timely, as ABB points out that authorities are keen to incentivize the retrofitting of existing buildings to make them more energy efficient.

Time will tell if ABB intends to continue to let Eve operate on its own or if it will eventually be folded into its internal team.

Citing a focus on being the best provider of smart technology and innovation, ABB Electrification's Smart Buildings Division president Mike Mustapha called Matter and Thread "a game-changing development for the uptake of smart home technology. It allows different devices and services to integrate flawlessly, intuitively, and securely, making it possible for people to manage their energy, and their surroundings conveniently and safely."

Eve CEO Jerome Gackel remarked "Building on our heritage, pace of innovation, and brand, we will now be combining our passion, agility and experience with ABB's international caliber, reputation, and expertise to keep growing Eve as a global leader."

Eve founder Markus Fest called the acquisition a "validation of our achievements so far" in Matter, Thread, and in smart home technology innovation.

The terms of the ABB acquisition of Eve were undisclosed.

Eve most recently released a new version of the Eve Flare, a portable Apple Home-enabled smart light that now works with Thread. Currently, Eve has three devices with Matter support and more on the way via over-the-air firmware updates.