EXCLUSIVE: MUST CREDIT EDISONREPORT. On 8 APR, EdisonReport published a teaser about an acquisition. We new that Hubbell had acquired a company but we did not who. This past weekend, your humble editor grilled baby back ribs. My iDevice Grill thermometer kept tabs on the meat while I kept tabs on Sergio Garcia and the Masters Tournament. Little did I know that this was the company that Hubbell had purchased. According to the iDevice website, their technology is compatible with the Apple HomeKit, as well as Siri or Alexa, and requires no hub. Connecting my grill thermometer was painless.
Presently EdisonReport does not have any sources at iDevice, so we are dependent on the Internet. They are located in Avon, CT, and according to Manta.com, they were incorporated in 2010. The Glass Door estimates their income at $5M to $10M. iDevices has raised approximately $20M in VC funding from two investors: Connecticut Innovations and Stonehenge Capital.
iDevice will not report to Lighting, rather it will report to Jim Van Hoof, Hubbell's VP of Growth and Innovation.
This might be a brilliant, long-term acquisition for Hubbell and it can be an immediate game-changer (and spec lock) for Progress Lighting. We fully expect Hubbell to scale and incorporate this IoT technology for it's many lighting lines.
Overnight Hubbell has gone from being a casual observer to a founding member of Augusta National! This acquisition should give Hubbell as strategic advantage in IoT.