Legrand Invests in Round of Financing for Netatmo, a Specialist in Connected Objects for the Home

Regulatory News:

LEGRAND (Paris:LR):

After the July 2015 launch of its Eliot¹ program—aimed at speeding up deployment of the Internet of Things in its offering and thus making Legrand an active player in the emergence of the promising market of connected buildings—Legrand today announced its participation in a round of financing for Netatmo², a French specialist in connected devices for the home. Legrand thus helps provide the resources Netatmo needs for continued strong growth.

Founded in 2011, Netatmo is well-known for its proactive stance and innovative know-how. Netatmo’s products that include the Weather Station for Smartphone, the Thermostat for Smartphone and Welcome, the Home security camera with face recognition are successfully sold in Europe in the United States and in Asia.

In addition to strengthening Legrand’s ties to the Internet of Things ecosystem in buildings and to related leading trends, this link-up will facilitate potential future collaboration between Legrand and Netatmo in developing interoperable electrical and digital infrastructure products with enhanced value in use.

Key financial dates

• 2015 full-year results: February 11, 2016
• 2016 first-quarter results: May 4, 2016
• General Meeting of Shareholders: May 27, 2016

ABOUT NETATMO

Founded in 2011, Netatmo is an innovative company developing consumer electronics for a better and connected lifestyle. Netatmo carefully designs their products’ mechanics, electronics and embedded software. Netatmo industrializes them with the finest quality standards and designs the mobile and web applications that unleash their capabilities. The first device launched by the company, the Weather Station for Smartphone, allows owners to measure indoor air quality, weather and more. In November 2013, Netatmo launched their second product for the European market, the Thermostat for Smartphone designed by Starck. At CES 2015, Netatmo unveiled Welcome, the smart home camera featuring revolutionary face recognition technology. Netatmo was recognized with 3 awards from the prestigious CES Innovations Design & Engineering awards both in 2013 and 2014, and 4 awards in 2015.

ABOUT LEGRAND

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. Drawing on a nearly 10-year CSR (Corporate Social Responsibility) approach that involves all employees, Legrand is pursuing its strategy of profitable and sustainable growth driven by innovation, with a steady flow of new offerings-—including Eliot* connected products that enhance value in use-—and acquisitions. Legrand reported sales of €4.5 billion in 2014. The company is listed on Euronext Paris and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, Corporate Oekom Rating and DJSI (ISIN code FR0010307819).
www.legrand.com

*Eliot is a program launched in 2015 by Legrand to speed up deployment of the Internet of Things in its offering. A result of the group’s innovation strategy, the Eliot program aims to develop connected and interoperable solutions that deliver lasting benefits to private individual users and professionals.
http://www.legrand.com/EN/eliot-program_13238.html

¹ With Eliot, Legrand has set ambitious targets that include doubling the number of its connected product families from 20 in 2014 to 40 in 2020 and achieving double-digit average annual growth in sales for connected products by 2020, starting from 2014 sales of over €200 million.
² Round of financing totaled €30 million. Other investors are Banque Publique d’Investissement, Iris Capital and Pascal Cagni (founder of C4 Ventures), all historic investors of Netatmo. Netatmo is headed by founder Frédéric Potter.

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