Australian IoT Vendor Buddy Acquires Lighting Company LIFX for $51m - Energy Watch News


Australian IoT Vendor Buddy Acquires Lighting Company LIFX for $51m

Australian Internet of Things (IoT) vendor Buddy Platform on Wednesday announced that it has entered into a binding agreement to fully acquire San Francisco-headquartered smart lighting vendor LIFX for about $51 million in a cash and stock transaction. As part of the deal, Buddy will absorb LIFX’s 48 employees across offices in Melbourne, Australia, Silicon Valley and Shenzhen. Following the completion of the acquisition, LIFX’s chief technology and product officer, Marc Alexander, will join the Buddy board of directors, per a company statement. https://www.dealstreetasia.com/stories/buddy-lifx-120265/

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