British Gas is set to acquire Internet of Things (IoT) company AlertMe, which currently powers its Hive Active Heating brand, for 44 million.
The deal will mean that British Gas is able to expand its Hive service, for which UK-based AlertMe provides the platform, beyond the 150,000 customers that already use it to control heating and hot water settings remotely.
These customers will see new products and services come from Hive as a result of the acquisition, according to the energy giant.
Nina Bhatia, commercial director of British Gas, said: "This acquisition underlines our commitment to helping customers manage their homes, including their energy, more easily. Already we're the only business in the UK that can build the technology, develop the software, and provide expert in-home installation and service.
"With access to new technology and skills, we're strengthening our capability at British Gas to develop a family of products that will put people in control of their homes in a way that's simply never been possible before."
With the deal to reportedly be finalised by the end of Q1 2015, British Gas may look to exploit AlertMe's other services, such as its range of home automation tools like IoT-based security and lighting systems.
"AlertMe has been the pioneer in establishing and growing the IoT commercially in the UK and USA," added Mary Turner, CEO of AlertMe.
"We have created a market-leading IoT platform and a highly experienced team of technologists and operational capability, which together have given us proven ability to serve mass market customers.
"We are excited to move forward with British Gas, with an opportunity to roll out service for tens of millions of homes, and to realise our ambition for further global distribution."
