Palo Alto, CA – May 1, 2017
iDevices®, the preeminent brand in the connected home industry, announced that they have been acquired by Hubbell Incorporated (NYSE: HUBB) of Shelton, Connecticut. iDevices will join Hubbell’s large portfolio of brands that manufacture and sell electrical and electronic products for residential, commercial, industrial, and utility applications.
“Hubbell was born at the dawn of electricity, iDevices at the dawn of IoT,” says Chris Allen, CEO and founder of iDevices. “We are at the precipice of a revolution in technology that will forever change people’s lives and the way they interact with the world around them. Today, we proudly join the Hubbell family and in so doing, solidify iDevices’ and Hubbell’s place in this revolution. Combining iDevices’ experience in developing and designing smart home solutions with Hubbell’s extensive expertise in manufacturing and distribution across residential, commercial and industrial markets will lay the perfect groundwork for a partnership in the Internet of Things (IoT) at a significant scale.”
“From start to finish, Woodside Capital Partners provided the strategic intelligence, domain experience and IoT industry relationships to deliver a successful outcome,” said Chris Allen, CEO of iDevices. “WCP’s guidance and execution was key in making this transaction possible.”
Woodside Capital Partners served as the exclusive financial advisor to iDevices in this transaction.
About iDevices, LLC
iDevices®, the preeminent brand in the smart home industry, is making IoT accessible to everyone with their premium line of Wi-Fi® and Bluetooth®-enabled products. With a comprehensive set of both plug-and-play and in-wall solutions, iDevices manufactures connected power, lighting, and climate control solutions for homeowners, professional installers, and builders alike. Their world-class team of in-house engineers and software developers maintain a forward-looking approach to in-field upgrades and platform integration; ensuring their products always remain at the forefront of home automation. iDevices seamlessly connects people to their worlds with sophisticated technology that enhances everyday life. The Company is located in Avon, Connecticut.
For more information on iDevices, visit www.idevicesinc.com
About Hubbell Incorporated
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. With 2016 revenues of $3.5 billion, Hubbell Incorporated operates manufacturing facilities in the United States and around the world. The corporate headquarters is located in Shelton, Connecticut.
For more information on Hubbell, visit www.hubbell.com
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology sectors, as well as institutional technology research services marketed as techView. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001 with leading domain experience in software, Internet services, electronics, communications and materials. Securities transactions are offered through Woodside Capital Securities LLC, a registered broker-dealer and member of FINRA (www.finra.org) and SIPC (www.sipc.org), and through Woodside Capital Partners UK LLP, a financial services firm authorized and regulated by the FSA (www.fsa.gov.uk). Woodside Capital Partners International LLC, Woodside Capital Securities LLC, and Woodside Capital Partners UK LLP are affiliated companies.
For more information about this transaction, please contact:
Senior Partner & Managing Director
Silicon Valley Office:
1950 University Avenue, Suite 150,
Palo Alto, CA 94303