Comcast (NASDAQ:CMCSA) has completed its acquisition of Icontrol Networks, specifically the Converge business that creates Internet of Things (IoT) technologies and platforms for connected home security. Converge's platform already powers the MSO's Xfinity Home service.
The acquisition, first announced last June, is intended to give Comcast full control over its smart home research and development roadmap by owning the part of Icontrol that provides the core home security platform. The MSO intends to invest more strategically in new products and features for Xfinity Home, particularly in the area of connected home security.
Comcast also plans to establish an "IoT Center of Excellence" in Austin, TX, where Icontrol is based. The hub will house engineers and developers supporting the MSO's various IoT businesses. Those engineers will work closely with other Comcast teams in Philadelphia, Silicon Valley, and other locations across the country.
The acquisition is also intended to create a new wholesale line of business for Xfinity Home, under which Comcast will offer the service to other MSOs. Comcast plans to continue supporting Icontrol's existing MSO customers around the world, including in Australia, Canada, and Japan.