Icontrol Networks, the company behind the most widely-distributed interactive security and home automation platform in the industry, is being acquired by Comcast and Alarm.com, reports said.
The acquisition is currently under governmental pending, according to a news release by Icontrol late last week.
Icontrol's Austin business unit, which developed the platform behind Xfinity Home, will become part of Comcast's technology portfolio. Meanwhile, Alarm.com will acquire Icontrol's Silicon Valley and Ottawa (Piper) business units, the release said.
In a separate report by Comcast, Managing Director Louis Toth of Comcast Ventures views Icontrol as a leader in the broadband security and home management market with huge market potential, particularly in the emerging market for energy management solutions.
“These additional funds put Icontrol in a position to offer energy management as a value-added service to its existing home security solution, and provide Icontrol's deployment partners the full range of broadband services they want to offer consumers,” Toth commented in the report.
The acquisition is expected to put Comcast on the map as a major provider for security infrastructure serving the growing network of connected consumer devices.
“As one of the pioneers of connected home platforms, this is an exciting time for Icontrol. We are proud of the accomplishments and market leadership that our hard work has afforded. We look forward to watching the smart home market continue to grow,” Icontrol said in its release.