Exciting move will see Ei expand its footprint in the Connected Home Arena with the acquisition of game changing complementary technology
Shannon Chamber congratulates Ei Electronics on the announcement this week that is has acquired Bristol-based company Homelync, a multi-award winning high-tech business that leverages cutting edge smart home integration and analytics technologies to address the needs of social landlords and their residents.
Homelync has developed an advanced ‘IoT Analytics and Integration Platform’, that aggregates home appliance and environmental information from within a property, and across a landlord’s stock, in real time. This includes for example boiler fault, mould indicator, energy use and fire safety information. Landlords with the Homelync solution can analyse IoT data and insights from their properties through the ‘Homelync Dashboard’, enabling more effective property management. The solution integrates with existing property and asset management systems, providing local authorities, social landlords and property managers with valuable insights, and a joined-up view of their assets.
Commenting on the investment, Ei Electronics CEO Mick Guinee said: “This is a significant strategic acquisition for the Ei Group. Through our UK Subsidiary, Aico, we currently have a leadership position in the UK Residential Social Housing sector, which dates back 30 years. With turnover in 2019 of £140 million, Aico’s customer base is increasingly demanding leading edge IoT solutions, so we see great potential with the Homelync investment. Their solution provides a complementary technology platform to our existing IoT offering, that will take us beyond managing our core fire and CO devices and into the broader Connected Home sphere.”
Welcoming this latest advancement by Ei Electronics, Shannon Chamber CEO Helen Downes said: “When you add this to the announcement in June that work has begun on the 10,000m2 expansion of the Company’s existing facility in the Shannon Free Zone, it truly emphasises what a progressive company Ei Electronics really is.
“It is a company that does not stand still, even amidst this unprecedented crisis. By acquiring a company with a technology that can be deployed worldwide, it has significantly reduced speed to market with an additional technology that would have taken years to develop in-house. This is a key acquisition for Ei Electronics and will hopefully lead to more manufacturing for the Shannon operation. Ei Electronics has remained open for business throughout the COVID-19 pandemic, excluding a short period when it was deemed prudent to temporarily close, and has provided employment to an additional 80 staff during recent months. Ei Electronics clearly endorses the fact the manufacturing can be undertaken successfully in Ireland, with a focused strategy and a progressive leadership team.”
Speaking following the announcement, Homelync CEO Luke Loveridge acknowledged the significance of the investment and the future strategic partnership: “Our vision is to harness new technology to make social housing smarter, safer and more efficient. The strategic investment by Ei and the future close collaboration with Aico will help us accelerate our objectives in this regard. The vendor agnostic, open sensor ecosystem we have developed is 100% complementary to what Ei offers its customers today. Add to this, our team, with decades of experience in software, hardware, machine learning and local government, and we believe we have the essential ingredients for a very successful partnership.”
20% of all housing in the UK is social housing accounting for 5.5 million properties. With a total annual spend of £37 billion these properties are owned and managed by 1,820 Social Landlords comprising Local Authorities and Housing Associations. This Group is the existing UK customer base and target market for the joint Ei-Homelync offering.
About Ei Electronics
With annual turnover in excess of €250 million, Ei Electronics is an acknowledged global leader in the design and manufacture of Fire and CO detection products for the residential sector. Employing over 900 people worldwide, the company is headquartered in Shannon, Ireland, where all key R&D, Manufacturing and Commercial functions are located. 100% of manufacturing is undertaken at the Shannon headquarters. Overseas autonomous subsidiaries are located in the UK, Germany, France, Poland and the USA. Further sales are facilitated through an extensive network of distributors worldwide. The Company’s success is based on a culture of Quality, Service and Product Innovation, R&D is the lifeblood of its business, with sensor technologies at the core of its product advancement. As a global leader in its industry Ei Electronics is now at the forefront of emerging Cloud-based “Connected Home” and IoT developments.
About Aico
Aico, an Ei Company, is the UK market leader in domestic Fire and Carbon Monoxide protection, pioneering new technologies and offering high quality Fire and Carbon Monoxide alarms. All alarms are designed, developed and manufactured at the Ei Electronics factory in Shannon, Ireland, ensuring that Aico alarms meet UK standards and offer a wide range of sensor types to ensure every home is protected. Each device is tested multiple times before leaving the factory, ensuring the highest levels of quality in all Aico alarms.
Aico offers in-house expert technical support as part of its dedication to excellent customer service. Aico’s Technical Team provides advice on alarm selection, siting and installation, as well as producing personalised specification documents. In addition to the in-house support provided, Aico also has Regional Specification Managers covering the whole of the UK to offer more personalised, local support.
About Homelync
Homelync is a multi-award winning high tech business that leverages cutting edge smart home integration and analytics technologies to address the needs of social landlords and their residents. Based in the South West of England where it has been recognised as one of the most innovative businesses in the region, Homelync’s team has industry leading expertise in Artificial Intelligence (AI) and the Internet of Things (IoT), as well as software development and integration. At the forefront of this rapidly emerging market, in the last 12 months, Homelync has grown significantly and accelerated the roll out of its products and services. By partnering with leading IoT providers and management systems, it has a track record of helping landlords reduce operating costs and carbon emissions whilst improving their residents’ wellbeing and safety.
