Fredericks Michael & Co. acted as exclusive financial advisor to Nice S.p.A., an Italy-based global manufacturer and provider of home security and automation systems on its acquisition of a 75% stake in abode systems, Inc.
Founded in 1993 in Oderzo, Italy, and listed on the Italian stock exchange since 2006, Nice designs, manufactures and markets automation systems for gates, garage doors, road barriers, awnings and shutters for residential, commercial and industrial buildings, as well as alarm and electronic control systems. The transaction was part of Nice’s strategy to expand its product portfolio to offer a wider range of connected, customizable, user-friendly options and compete in new market segments.
“It is a strategic transaction for Nice that will allow us to expand our product range to include the Home Security sector for installers and end users, thereby strengthening Nice’s leadership position in North America, a market that is enjoying growing demand for connected Home Security and Automation solutions. This partnership offers the opportunity to develop direct dialogue between Nice and its end user while safeguarding the Business-to-Business distribution channels and services offered to professionals; it also offers innovative opportunities of integration between various platforms and extraordinary, highly profitable cross-selling options with potential partners in the insurance sector, as well as the range of additional subscription services”, said Mr. Lauro Buoro, Founder and Chairman of Nice.
About abode
Founded in 2014 by former ADT executive Christopher Carney and entrepreneur Brent Franks, abode was designed to be the most flexible and comprehensive all-in-one do-it-yourself smart security solution. With a vision of providing ease, simplicity and choice, abode combines a no-contract home security platform with comprehensive smart home functionality. abode has developed a patented on-demand short-term monitoring solution that allows customers to choose with no contract or commitment and receive out-of-the-box support for virtually any smart home device on the market including Nest, Amazon Echo, the Google Assistant, ZigBee and Z-Wave. abode’s powerful platform is delivered in a simple user interface, giving customers an intuitive and easily customizable experience from set-up to everyday use. For more information, visit www.goabode.com
About Nice
Founded in 1993 and listed on the Borsa Italiana since 2006, Nice is an international company in the Home Security and Automation sector, with a comprehensive offering of integrated automation solutions for gates, garage doors, solar shading systems, parking systems, wireless alarm systems and home security, for residential, commercial and industrial buildings. Nice has launched a strategic plan for geographic growth and extension of its product portfolio and connected platforms, in order to offer a wide range of customizable, user-friendly options for the end user. Nice also seeks to strengthen and expand in markets with high growth potential, refining its branding to compete in new market segments. Nice exports its products, which combine technological innovation and design, to over 100 countries, generating more than 90% of its consolidated revenues abroad. For more information, visit www.niceforyou.com
