Richmond Capital Partners Acquires Smartlabs and Fortifies Company with $7.3 Million in Funding to Accelerate the Company’s Push in the IoT Industry

Technology Industry Veteran Rob Lilleness to Lead the Company

Irvine, Calif. – June 13, 2017 – Richmond Capital Partners, a private investment firm based in Seattle, today announced the acquisition of Smartlabs Inc., parent company of Insteon®, an Internet of Things (IoT) technology company, and Smarthome®, an eCommerce superstore for home automation. As part of the acquisition, Rob Lilleness will assume the role of chairman and Chief Executive Officer.

Lilleness has built multiple successful high-tech businesses in digital media, mobile, software and consumer products. Most recently he served as president and Chief Executive Officer for Medio Systems, an ACCEL-backed company, which was acquired by HERE Technologies (a company currently owned by BMW, Daimler, Audi, Intel, and Tencent). Prior to Medio, Lilleness was president and COO of Universal Electronics (NASDAQ: UEIC). During his tenure at Universal, earnings more than tripled and the market capitalization grew from approximately $100 million to $500 million.

“I’ve been following Smartlabs almost from when they started. Their Insteon line remains arguably the strongest in the IoT space for controlling and communicating with electrical components in one’s home—whether via Amazon Alexa, smartphones, pads, or traditional wall plates and remotes,” said Rob Enderle, principal analyst, Enderle Group. “Additionally, Rob Lilleness, with his background helping to build Microsoft’s networking business, is one of the few people that has both the resources and experience to take Smartlabs where I’ve always believed they could go.”

One of the Largest Opportunities in IoT

According to a report published by Business Intelligence, by 2020 the U.S. residential market will have 193 million devices in connected homes with almost 50 percent of those devices in Smartlabs’ core electrical, lighting and sensor market. The global smart electrical control market is expected to grow to $10.8 billion over the next five years.

“There are two incredibly interesting IoT spaces in technology today—the car and the home,” said Lilleness. “Over the next five to 10 years, it is inevitable that a large portion of electrical nodes in the home will be ‘smart’ and addressable via the internet. With Insteon’s patented dual-mesh technology that communicates both wirelessly and via the home’s own electrical wiring, Smartlabs has the most reliable and scalable technology for electrical control and communication, which is critical to meet consumers’ expectations.”

Smartlabs headquarters will remain in Irvine, Calif., and the company plans to open a software development office in Seattle.

About Insteon

Insteon creates the world’s leading technology for electrical, lighting, and sensor communication and control.  Its patented dual mesh technology delivers unmatched reliability that is used in more than 200 Insteon-powered products and enables consumers to control their homes from virtually any device or interface. 

About Smarthome

Smarthome is one of the world’s largest home automation retailers and an easy-to-use source for thousands of affordable lighting, security, and home entertainment products that the average “do-it-yourselfer” can safely install. Its team of product specialists strives to deliver the newest cutting-edge products at the best possible prices. Smarthome distributes products with award-winning INSTEON® technology.

About Smartlabs

Founded in 1992, Smartlabs, Inc., the parent company of Insteon and Smarthome, is the world's leading authority on electronic home improvement and automation.

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Press contact: pr@insteon.com

New Motion Sensor from Insteon Enhances Motion Activated Lighting

 

Irvine, California – January 18, 2017 – Insteon®, creators of the world’s premier home automation and control technology, today announced a new and improved wireless motion sensor, which makes activating lights based on movement easier than ever. With a completely redesigned body, the new Insteon motion sensor is half the size of its predecessor and features wall, corner, or tabletop placement options as well as external setup and motion override buttons – just a few of the new features that make this new motion sensor best in class.

The new Insteon motion sensor can be paired directly to switches, outlets, and plugs without an app or hub – reducing setup time to seconds. For a more customized setup and configuration experience, pair the sensor with the Insteon Hub using the free Insteon for Hub mobile app. In addition to configuring when and how the motion sensor will activate lighting, the Insteon Hub allows you to turn the motion sensor into an alert system, pushing messages to your phone when there’s motion in a particular area of the home.

“Great satisfaction and peace of mind comes with motion controlled lighting,” said Joe Dada, CEO of Insteon. "Not only does it reduce energy waste by automatically turning lights off when you leave a room, it relieves you of the hassle of reminding family members to turn lights off. And with this latest redesign, we’ve made our sensor smaller, better looking and easier than ever to place around the home.” 

In addition to features found in the previous model such as night-only mode and adjustable countdown timer, the new Insteon motion sensor adds these newer features:

  • Improved wireless performance
  • Smaller, more modular design provides easy tabletop, corner or wall mounting options
  • Motion rest button – provides a convenient way to temporarily pause motion activation
  • Sensor can be plugged into power with an optional USB cable and power adapter that also allows the sensor to act as a repeater – helping repeat Insteon signals throughout the home
  • Multi-colored setup LED and beeper aids in setup and configuration

Now accepting preorders exclusively through smarthome.com with units expected to ship the first part of February.

For more information, please visit http://www.insteon.com/motion.

 About Insteon®

Insteon® transforms the "connected home" from a buzzword into reality. We make life simple by connecting you to the things that matter. Control your lights, alarms, thermostats – all your things – from wherever you are in the world. Insteon's patented technology is simple and reliable, powering the most fail-safe connected home on the market. With more than 200 Insteon products available today and thousands of developers, we bring all of the things in your home into elegant command. It’s your house, turn it on.

For more information about Insteon, please visit www.insteon.com.

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Media Contact: pr@insteon.com