iControl and uControl Announce Merger Agreement
Creates Market Leader and Advances Broadband Home Management Industry
PALO ALTO, Calif., Nov. 4, 2010 /PRNewswire/ -- iControl Networks and uControl today announced that the companies have entered into a definitive merger agreement. The merger combines the two market leaders in broadband home management, and promises to deliver a best-in-class solution that includes interactive home security, energy management and home health care solutions to broadband service providers, home security companies and utilities. The combined company has launched commercially with several service providers and will announce additional deployments in the near future. All commercial trials and deployments will continue as planned.
The merged company will retain the name iControl Networks and will be headquartered in Palo Alto, California with a division in Austin, Texas. iControl CEO Paul Dawes and uControl CEO Jim Johnson will both remain in their roles and serve as co-CEO's of the new iControl Networks.
"Through this merger, iControl and uControl have combined our respective strengths to deliver the best platform for the broadband home management market," said Paul Dawes, co-CEO of iControl. "Whether it's support for industry-leading IP video monitoring, innovative iPhone and Android apps, or cutting edge ZigBee and Z-Wave technology, the new iControl will offer the most comprehensive, innovative solution available."
"This is a rare opportunity where everyone benefits," said Jim Johnson, co-CEO of iControl. "The scale achieved through this market consolidation is better for customers, partners, employees, and investors. Our top priorities are the success of our customers' deployments and accelerating the growth of our OpenSMA ecosystem."
Palo Alto-based iControl Networks is a venture-backed software and services company providing award-winning solutions defining the broadband home management market. iControl Networks partners with home security companies, broadband operators, utilities and telecommunication firms to deliver iControl ConnectedLife, the next generation of home management, security and connectivity. Investors in iControl include ADT, Charles River Ventures, Cisco, Comcast Interactive Capital, GE Security, Intel Capital and the Kleiner Perkins Caufield and Byers iFund. For more information, please visit www.icontrol.com.
Austin-based uControl delivers an open, technology-agnostic Home Security, Monitoring and Automation (SMA) software platform making the Connected Home a reality. uControl focuses on the full spectrum of SMA solutions, leading with next generation home security. Through its industry-leading OpenSMA program, uControl brings together all the players who power the Connected Home, integrating and enabling a diverse ecosystem, from Service Providers such as cable and telephone companies to Platform Hardware and Lifestyle Device manufacturers who supply items such as thermostats, lighting controls, touch screen tablets and security sensors. Application developers also play a crucial role within OpenSMA, bringing to market an endless list of Connected Home applications. For details on uControl partners and customers or more information on OpenSMA, visit www.opensma.com or follow @opensma on Twitter. For more information about uControl, visit www.ucontrol.com or call 1-888-357-4214.
SOURCE iControl Networks
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