Nortek to Acquire 2GIG for $135M

Nortek Inc. is acquiring 2GIG Technologies, possibly the fastest growing home automation and home security manufacturer for about $135 million.

 

2GIG will be folded into Nortek subsidiary Linear LLC, provider of home security, garage door openers, commercial access controls, PERS and other electronic systems.  In addition to Linear, Nortek owns the Core Brands of home technology companies including Elan Home Systems, SpeakerCraft, Niles Audio, Xantech and Panamax/Furman.

 

The 2GIG acquisition comes about five months after 2GIG was acquired, along with its biggest customer Vivint, by the Blackstone Group for $2 billion.