Amazon To Acquire Qualcomm-Backed Router Company
E-commerce and electronics giant, Amazon, is set to acquire Qualcomm-backed mesh Wi-Fi router company, Eero, in an effort to “help customers better connect [to] smart home devices.”
The news sparks speculation Amazon will enter the networking market, taking on the likes of Netgear, D-Link and Belkin-owned Linksys.
It follows Amazon’s expanding smart home ecosystem, underpinned by digital voice assistant Alexa.
The companies have entered into a definitive merger agreement under which Amazon will acquire Eero. Acquisition is subject to customary closing conditions.
Eeero is a considered a pioneer in mesh Wi-Fi technology, with its systems pledging high-performing secure whole home Wi-Fi, and set-up in minutes via an app.
The company’s stable of Wi-Fi products are already sold on Amazon’s e-commerce platform, boasting a rating of 4.6 stars.
“We are incredibly impressed with the Eero team and how quickly they invented a WiFi solution that makes connected devices just work,” asserts Dave Limp, SVP of Amazon Devices and Services.
“We have a shared vision that the smart home experience can get even easier, and we’re committed to continue innovating on behalf of customers.”
Eero Co-Founder and CEO, Nick Weaver, asserts the acquisition will leverage compatible strengths between the companies:
“By joining the Amazon family, we’re excited to learn from and work closely with a team that is defining the future of the home, accelerate our mission, and bring eero systems to more customers around the globe.”
According to PitchBook, Eero was last valued at US$125 million in a Series D in 2017, and is backed by firms such as Shasta Ventures and Qualcomm.
Eero incorporates multiple connection points to form a complete system, blanketing a home in high-performing secure Wi-Fi.
Users can customise systems to eliminate ‘dead zones’, optimise streaming in every room, harness parental controls plus more.