Nice, a global manufacturer of smart home, security, and home & building automation solutions, announced today it has acquired Nortek Security & Control from Melrose Industries. Nortek Security & Control is a developer of technology for security, home automation, control, power, AV and entertainment, access control, health, and artificial intelligence (AI) systems for residential and commercial markets.
With this acquisition and addition of brands – including 2GIG, ELAN, Linear, MightyMule, Proficient, SpeakerCraft, Gefen, Xantech, Panamax, Furman, numera, and IntelliVision – Nice expands its portfolio to provide a full suite of integrated solutions for residential, commercial, industrial, and government customers, from consumer DIY to custom and professionally-installed specialized products and high-security applications.
The transaction, valued at $285 million, is the largest investment to date by Nice.
In North America, the portfolio of brands under Nice includes Abode, Nice, and HySecurity in addition to well-established gate, door, sunshade, and smart security offerings. The acquisition instantly increases reach and scales growth through existing Nice distribution channels and with those of Nortek Security & Control. Partners of each organization will experience streamlined communication from one brand to the next and, in time, will have access to a broader portfolio of integrated solutions.
Nice Doubling R&D with Nortek
The move substantially strengthens the presence of Nice in the North American market and doubles its R&D capacity to further accelerate innovation and expansion of platform-based integrated solutions, considerably enlarging the Nice customer base globally in a fast-growing market.
The partners of Nice and Nortek Security & Control will experience an enhancement of their current relationships through a larger organization with an even stronger commitment to the channel. Nice is a global company with a regional presence to focus on its local markets and partners.
“This acquisition reinforces our strong commitment to North America and significantly expands our global footprint. Nice now employs over 3,000 people across five continents, encompassing the most diverse backgrounds and cultures with 16 R&D centers and manufacturing facilities servicing partners and customers in over 100 countries,” said Lauro Buoro, chairman and founder of Nice.
“We are very excited to join Nice. Nortek Control has built a reputation for delivering innovative and industry-leading platforms to the market. With the addition of the Nice product lines our consolidated organization will now offer one of the broadest and deepest portfolio of disruptive products to the market,” said Christopher Larocca, president and CEO of Nortek Security & Control.
Founded in the 1960s as Linear Corporation, Nortek Security & Control has a vast portfolio of products, over 200 patents, and 12 leading brands across security, access control, AV, power management, smart home, AI, and personal health.
In March, Nortek Security & Control released the 2GIG EDGE Security and Automation Panel with AI and edge analytics, winning several industry awards. The new panel for the pro-install security market delivers the industry’s first secure face recognition touchless disarm. Developed with edge processing, the panel’s engineering ensures homeowner’s biometric data stays secure by saving it only on the panel.
Business will be conducted as usual throughout 2022. The North American organization will immediately begin collaborating with the Nortek Security & Control team on blending portfolios and operations to emerge fully integrated in 2023.