Amazon comes into the home networking. Seattle-based retailer announced today that it has entered into a "definitive merger agreement" with Eero in which it will acquire the Wi-Fi mesh network company at an unpublished price. The deal is expected to close in the first half of this year.
Nothing will change for existing Eero customers, an Amazon spokesman told VentureBeat.
" We are unbelievably impressed by the Eero team and how quickly they invented a Wi-Fi solution that simply makes connected devices work," said Dave Limp, senior vice president of Amazon Devices and Services, in a statement. " We have a shared vision that the smart home experience can become even easier, and we commit to continue innovating on behalf of our customers. "
Eero for the uninitiated, offers a Wi-Fi home system that uses multiple access points to extend connectivity to every corner of a building. The system communicates with the cloud for instructions and updates. With the accompanying app for smartphones, customers can share their network, program parental controls, and perform speed tests as needed.
" From the very beginning, Eero's mission was to make the technology in homes simply work " said Eero co-founder and CEO Nick Weaver. "We started with Wi-Fi because it's the foundation of a modern home. Every customer deserves reliable and secure WLAN in every room. Joining the Amazon family makes us happy to learn from and work with a team that defines the future of the home, accelerates our mission and brings Eero systems to more customers around the world.
Founded in 201
TechCrunch reported last year that Eero fired 30 people or about a fifth of its workforce.
A single Eero router costs $ 199 and covers up to 1,500 square meters. Range-extending beacons cost an additional $ 149 or $ 299 included with the router. Eero's optional security service starts at $ 99 per year.
Eero has been the second major acquisition of smart home for Amazon since buying ring video maker Ring in March. (According to Crunchbase, Ring had raised $ 209 million before the acquisition.) In late 2017, Amazon also acquired the camera company Blink for reported 90 million US dollars.