Amazon Will Buy Startup Eero to Help Connect Home Devices
(Bloomberg) -- Amazon.com Inc. has agreed to acquire Eero, a builder of WiFi-networking tools, in another deal aimed at bolstering the retail and technology giant’s home devices business.
Eero, based in San Francisco, makes gadgets that extend WiFi coverage throughout a home using local networking, known as mesh technology, that removes hiccups in broadcasting internet signals.
The companies didn’t disclose the purchase price Monday when they announced the acquisition. Eero has raised $148 million in equity and debt, according to PitchBook Data Inc.
Amazon, builder of the hit Echo smart speaker line, is behind a growing range of home electronics, from Fire TV streaming sticks to a voice-controlled microwave. Last year, the company bought Ring, a builder of video doorbells and home security gear.
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