Resideo Technologies, an Austin, Texas-based pioneer in home-based comfort and security solutions, as per recent reports, has acquired Buoy Labs, a Santa Cruz, California-based WiFi-enabled smart home solution provider that specializes in providing software solutions tracking a home’s water usage.
The Buoy Labs solution, by integrating smart software and hardware, is apt at identifying potential leaks, providing timely intervention to prevent them from happening, using Buoy Labs’ subscription-based app services.
The acquisition of Buoy Labs is Resideo’s strategy behind it’s “vision to provide whole-home management through four areas — comfort, security, air quality, and water usage,” says Mike Nefkens, president and CEO of Resideo. “Buoy Labs is the first move in our ongoing strategic initiative to identify and execute on tuck-in acquisitions. Their products and talent are a natural fit for Resideo’s portfolio of professionally installed and monitored smart home solutions that integrate the critical systems of the home.”
The Santa Cruz-based Buoy Labs, is Resideo’s first acquisition, as a standalone, publicly traded company, post its Honeywell spinoff, last year in 2018. Founded in 2015, the privately held Buoy Labs’ Buoy products are professionally installed by a plumber to a home’s main water line, either indoors or outdoors, and can be powered by an outlet or battery.
The Buoy app actively analyzes home water use and reports the same to the homeowner or their contractor of choice. The software monitors potential leaks, and on sensing one sends an alert to the user and shuts off the water, automatically or via the app.
“As a startup, Buoy helped to create a smart home category for home water management and whole home leak detection,” states Niccolo de Masi, Resideo’s president of Products and Solutions, and chief innovation officer. “With Resideo’s presence already in more than 150 million homes, Buoy will benefit from our existing solutions in the home, our strong manufacturing capabilities and contractor network in meeting the growing water market demand.”