ABB Ltd acquired Eve Systems GmbH, a transaction announced in June 2023, structured as cash.
Eve Systems GmbH operates in Smart Buildings / smart home, is based in Munich, Germany, had revenue of about approximately $20 million (2022). Eve Systems, a Munich-based smart-home maker established in 1999 with about 50 employees and roughly $20 million of 2022 revenue, builds home-automation, energy-management, security and appliance-monitoring devices. Its products are built on the Matter interoperability standard and Thread wireless connectivity.
The acquisition made ABB a leader in smart-home products based on Matter and Thread, extending its Smart Buildings portfolio into consumer energy management and home automation as demand for energy-efficient retrofits grows.
Advisory firms were not disclosed for this transaction.