An early local player in the Internet of Things and smart home industry is now part of the leading companies in home security. Portland startup IOTAS has been acquired by ADT.
As we enter economically uncertain times, the real estate industry is in need of a reliable, adaptable partner. I am confident we are that partner. Together, we are going to revolutionize what it means to live in a smart property. We firmly believe that your smart home or apartment should do more than just control a thermostat or watch for leaks—it should help protect and connect what matters most.
Our next generation smart properties will feature first-of-its-kind, in-app mobile protection for residents, coupled with more efficient management and more connected living. Through an ADT monitored SOS button integrated into our multifamily app, residents and staff will be protected by the communities they live and work in, no matter where they are. The safety of their home will travel with them, providing peace of mind in dark parking garages, empty stairwells, ride-shares, and everywhere in between.
“There are many reasons we decided to join forces with Iotas, but two stand out,” said John Butrim, senior director B2B2C (business to business to consumer) at ADT, who said ADT did extensive market research looking at acquisition targets. “The first is the talent as Sce and the team are innovative, creative and a great fit with ADT’s culture. Second, the Iotas platform is stable, scalable, fits the current needs of multifamily customers and is primed for innovation.”
According to The Oregonian, all staff will be retained and IOTAS will still have a Portland address:
IOTAS employs about 40, a little more than half of them in Portland, and Pike said it’s not cutting any jobs following the deal. She said she just signed a five-year lease for a Portland office and expects to add jobs in the coming months.
Which is welcome news, I’m sure, as the economy continues to sour.
Terms of the deal were not disclosed.
For more information, see the IOTAS blog post from founder Sce Pike.
[Full disclosure: I was an advisor to IOTAS in the early days of the company. I had no involvement in the acquisition.]
