Nice Acquires FIBARO, One of the Major Players in the Smart Home, Consolidating its Global Leadership Position in the Home Automation and Home Security Sector

ODERZO, Italy, July 13, 2018 /PRNewswire/ --

Nice S.p.A., the Italian international reference firm in Home Automation and Home Security, expands in the Smart Home sector and acquires FIBARO, a leading brand in the sector, which offers a true wireless, modular ecosystem for a connected, controlled and customized home suited to the user's specific needs. The Italian company continues along its path of international expansion, and, thanks to an even broader and innovative offer, is ready to seize the opportunities of a segment with a high growth potential such as the "Smart Home". On the basis of the agreements reached, Nice S.p.A. acquires the entire share capital of Fibar Group S.A., indirectly acquiring its subsidiaries as well.

The operation resulted in the payment, today, of consideration of Euro 63 million, partly financed through equity and lines of credit already available to Nice S.p.A. Furthermore, the sellers may receive additional consideration through an earn-out mechanism linked to the performance of Fibar Group S.A. in the years 2019, 2020 and 2021.

"We are pleased to announce this important new deal for the Group," commented Lauro Buoro, founder and Chairman of Nice S.p.A.. "It allows us to accelerate our growth by offering a portfolio of the most complete products in the Home Automation and Home Security sector, thus strengthening our position of leadership in world markets, characterized by the growing demand for connected solutions to allow consumers to have their own most innovative Smart Home."

The Nice Group, which has production and distribution facilities and research and development centers in more than 20 different countries, with a headcount in 2017 of more than 1,500, 2017 consolidated turnover of Euro 325 million and adjusted EBITDA of Euro 52.4 million, helps spread awareness of Italian excellence in more than 100 countries worldwide, which have chosen high quality home automation solutions that masterfully combine technology, design, innovation and ease of use. Nice has also recently acquired Abode Systems, Inc., an American company specialized in offering smart solutions for home security and integrated Home Automation.

http://ir.niceforyou.com/file_upload/CS_Nice_12Luglio2018_ENG.pdf

Nice: http://www.niceforyou.com

SOURCE Burston Marsteller and Nice