Comcast Agrees to Acquire Startup Icontrol Networks -- Update
June 23 2016 - 1:41PM
Dow Jones News
By Scott Martin
Cable Giant Comcast Corp. has agreed to acquire Icontrol
Networks Inc. in deal for the company's Internet of Things
technology.
Financial terms of the deal weren't disclosed.
Icontrol Networks, which is based in Austin, Texas, has raised
$93.5 million from venture-capital backers including Kleiner
Perkins Caufield & Byers, Intel Capital and Comcast Ventures,
according to Dow Jones VentureSource.
The Icontrol Converge software platform has been the system
behind Comcast's Xfinity Home system for touch-screen panels and
works with servers in the background. The software enables
communication and management for home sensors as well as cameras
and thermostats.
Separately, Alarm.com said on Thursday it has agreed to acquire
the other elements of Icontrol's business.
Write to Scott Martin at Scott.Martin@wsj.com
(END) Dow Jones Newswires
June 23, 2016 13:26 ET (17:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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