Universal Electronics to Acquire RCS Technology, Expanding Its Lineup of IoT, Energy Monitoring and Control Products
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Through this acquisition, UEI further solidifies its footprint in the rapidly growing IoT space by expanding its portfolio of home sensing, monitoring and control solutions to include programmable communicating thermostats (PCTs), advanced HVAC controls, energy monitoring and control devices, gateways, in-home displays and user interfaces.
“RCS represents another important step toward our goal to be the leader
in control and sensing technologies for the smart home,” said
The smart thermostat market is projected to have accelerated growth over
the next five years, driven by several factors: advancements in
communication technologies; consumer interest in home automation and
monitoring; a push for energy conservation; and the growth of utility
and government-sponsored programs. According to data from
RCS is one of the leading suppliers of smart communicating thermostats to original equipment manufacturers (OEM). RCS delivers innovative thermostat products to major HVAC manufacturers as well as companies in security and home automation such as ADT and Nexia Home Automation Systems.
“Our growth has been driven largely by a focus on quick development for
accelerated time to market, using local, responsive engineering design
and production teams, as well as a broad product portfolio including
Z-Wave®, ZigBee® and Wi-Fi®
The purchase price for the acquisition of RCS assets will be
UEI intends to operate the acquired business as a wholly-owned subsidiary and market the energy monitoring, thermostat, sensor products and services under RCS brands and its trademarks, building upon RCS’ many years of experience, expertise and innovation in the industry.
About RCS Technology
RCS Technology is a leading designer and manufacturer of energy management and control products for the Residential, Small Commercial, and Hospitality markets. RCS branded products have been the iconic home control and automation platforms for several generations of control networks and media technologies from Powerline to RF to WEB based solutions.
For more information, visit www.rcstechnology.com
Safe Harbor Statement
This press release contains forward-looking statements that are made
pursuant to the Safe-Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Words and expressions reflecting
something other than historical fact are intended to identify
forward-looking statements. These forward-looking statements involve a
number of risks and uncertainties, including the successful closing of
the transaction between UEI and RCS and integration of their respective
business lines, the timely development, delivery and market acceptance
of products and technologies such as thermostats, energy monitoring,
wireless sensors and other technologies identified in this release; the
continued penetration and growth of next generation consumer
technologies; and other factors described in the Company’s filings with
Universal Electronics Inc.
Benny Canady, 714-918-9500
LHA (Investor Relations Agency)
Becky Herrick, 415-433-3777