U.S. company acquiring Neeo
Solothurn startup Neeo is passing into the ownership of U.S. company Control4, it was reported in a press release. The acquisition cost is not being disclosed, though Neeo co-founder Raphael Oberholzer did reveal to the Solothurner Zeitung newspaper that the figure is in the double-digit millions. He explains that the company was not sold to make a quick buck – Control4 and Neeo are a good fit and this will enable the startup to continue growing in a favorable environment.
Neeo has developed a remote that can be used to control all devices in a smart household, including music, heating and lights. It makes all other remote controls and apps superfluous. This solution created by Neeo is equipped with a range of modern functions. For example, the remote has user fingerprint identification, so no password is needed.
Raphael Oberholzer reports that Control4 will be retaining all existing employees. The company currently has 25 members of staff at its headquarters in Solothurn and in Bern. “We can expect significant growth as part of Control4. Over the next few months, quite a few new jobs will likely be created in Bern,” he said to the Solothurner Zeitung.
The headquarters of Control4 are in the U.S. state of Utah and it develops smart home automation system to control lighting, entertainment, security, energy and other connected devices.