ABB is looking to strengthen its smart home technology portfolio with the acquisition of Munich-based Eve Systems, which operates in Europe and the United States. Specific details of the transaction were not disclosed.

Founded in 1999, Eve Systems has earned a reputation for high quality smart home products. Its extensive product line includes a wide range of home automation, energy management, security and appliance monitoring devices. Eve has approximately 50 employees and has pioneered the emerging Connected Matter standard. This technology enables wireless connectivity and interoperability between smart home products regardless of the manufacturer or user's operating system. Eve is meeting the growing consumer demand for energy-efficient solutions, with more than half of its consumer products focusing on various aspects of home energy management.

ABB, a Swedish-Swiss multinational company based in Zurich, is at the forefront of technology in electrification and automation. Its goal is to create a sustainable, resource-efficient future through innovative solutions. Combining expert technical knowledge and advanced software, ABB optimizes various industrial processes, including manufacturing, transportation, energy and operations. The company boasts more than 130 years of history and 105,000 employees.

This acquisition represents a strategic move for ABB in the rapidly expanding market for smart home technologies and the growing demand for retrofitting existing buildings to improve comfort, convenience and energy efficiency.