Resideo Acquires LifeWhere, Expanding Remote Monitoring And Predictive Maintenance Capabilities

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Jun 27, 2019, 17:37 ET

AUSTIN, Texas, June 27, 2019 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) announced it has acquired Pittsburgh-based LifeWhere. The newly acquired company uses machine learning and analytics to predict potential failure on critical home appliances, such as water heaters, furnaces and air conditioners. This service provides the detailed analytics required for professional contractors to dispatch technicians with the right skills to quickly repair the appliance before it causes a catastrophic failure.

"LifeWhere is a perfect fit for our portfolio of home comfort solutions and demonstrates our commitment to connecting consumers with the do-it-for-me professional contractor channel to provide a safe, healthy and efficient home, accessible to all," said Mike Nefkens, president and CEO of Resideo. "Through our network of 110,000 professional contractors, we are well positioned to help professionals conduct preventative appliance maintenance. By empowering our pros to diagnose and repair 'behind the wall' appliance issues proactively, they can mitigate the inconvenience of a catastrophic appliance failure."

The announcement marks the third acquisition by Resideo since it became a standalone, publicly traded company following its spinoff from Honeywell in October 2018. LifeWhere is a Pittsburgh-based startup founded in 2016. The company's remote monitoring and diagnostics solutions bridge the gap between homeowners and service experts, expanding the smart home as a service market. The technology complements Resideo's broad portfolio of home comfort and home automation solutions. Resideo will look to strategically integrate the remote monitoring technology into the company's smart-home offerings.

About Resideo
Resideo is a leading global provider of critical comfort and security solutions primarily in residential environments, and distributor of low-voltage electronic and security products. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. We continue to serve more than 110,000 contractors through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from more than 200 stocking locations around the world. Resideo is a $4.8 billion company with approximately 13,000 global employees. For more information about Resideo, please visit www.resideo.com.