Allegion Accelerates Vision of Seamless Access with Acquisition of Technology Company Yonomi
Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has acquired privately held technology company Yonomi.
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Yonomi is an innovation leader in IoT Cloud platforms. Founded in 2013 by building automation and enterprise Cloud computing experts, Yonomi was the first to create an agnostic smart-home ecosystem that automatically discovers and coordinates devices. Today, Yonomi solutions are used in more than 150 countries, and millions of IoT devices are connected to its platforms.
According to Allegion Senior Vice President and Chief Technology Officer (CTO) Vince Wenos, Yonomi also holds unique intellectual property that matches well to Allegion’s strategic priorities for accelerating growth through seamless access, innovative solutions and meaningful partnerships.
“Yonomi’s patented technology and technical capabilities will help accelerate Allegion’s vision of seamless access and enhance the breadth of our software development capabilities,” Wenos said. “It also opens avenues for integration with leaders in home and enterprise solutions for the IoT – supporting our ‘partner of choice’ strategy.”
Wenos added, “We are a customer of the Yonomi platform, ourselves, having embraced Yonomi ThinCloud technology as a part of our residential smart deadbolt ecosystem. This, too, makes us a firm believer in Yonomi solutions and, especially, the team behind them.”
Yonomi’s CEO Kent Dickson will become vice president and general manager of the Yonomi business unit within Allegion. Dickson noted that Allegion has been an investor in Yonomi since 2017 and this acquisition was a natural evolution for the Yonomi business.
“This is an exciting moment in time for the Yonomi family and our customers,” Dickson said. “As an early provider of IoT solutions, Allegion truly understands the value of connected ecosystems and shares an important role in progressing smart-home solutions through its industry-leading brands like Schlage. In addition, Allegion has been a significant partner of, and investor in, our company, and this acquisition provides more capital and capacity for growth of our existing technologies and platforms.”
Yonomi employs nearly 25 people at its operations in Boulder, Colorado, and Austin, Texas.
Terms of the transaction were not disclosed.
Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $2.9 billion in revenue in 2019 and sells products in almost 130 countries.
For more, visit www.allegion.com.
Whitney Moorman – Reputation Management Leader – (317) 810-3241 – Whitney.Moorman@allegion.com
Tom Martineau – Vice President, Investor Relations, and Treasurer – (317) 810-3759 – Tom.Martineau@allegion.com
Source: Allegion plc