Watsco Completes Acquisition of Alert Labs Inc.
COCONUT GROVE, FLORIDA October 10, 2018 Watsco, Inc. announced that it has completed the acquisition of Alert Labs Inc., a technology company founded in 2015 and based in Kitchener, Ontario, Canada. Terms of the acquisition were not disclosed.
Alert Labs develops, designs and builds IoT hardware and software, including cloud-based and mobile solutions aimed at helping protect homes and businesses from damage and unnecessary expenses. Alert Labs will continue to develop and sell its current product portfolio led by its founders. More information about the team and solutions can be found at www.alertlabs.com.
Alert Labs has also furthered the development and commercialization of Sentree, an IoT device invented by Watsco Ventures, a technology team based in Watsco's Coconut Grove, Florida headquarters. Sentree attaches to an existing HVAC system and, through a proprietary cloud-based software platform, remotely measures, collects and analyzes vital performance analytics. Contractors are notified when an operating anomaly is detected or when maintenance may be required to alleviate risk of critical failure. In addition to providing data about the health of a system, this connectivity and data stream offer longevity and value to a contractor's relationship with homeowners.
George Tsintzouras, Co-Founder and Chief Executive Officer of Alert Labs, said: "This partnership brings together Alert Labs' technical experts in commercial IoT technology with Watsco's channel of HVAC contractors. Our easy-to-install technology expands Watsco's product offerings and establishes a strong position in the smart-home space. Our vision has always been to help homeowners reduce wasted costs and avoid property damage by giving them valuable, real-time information about what is costing them money in their homes. This partnership with Watsco advances our vision into reality."
A.J. Nahmad, President of Watsco, said: "Alert Labs is an exceptional team of innovators, with an entrepreneurial culture that is consistent and complementary to ours. This acquisition represents the next phase of investing in ground-breaking technologies intended to deliver unique solutions and opportunities to our customers. We look forward to partnering with their talented team."
Watsco operates the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in the United States, Canada, Mexico and Puerto Rico, and on an export basis to Latin America and the Caribbean. Watsco estimates that over 250,000 contractors and technicians visit or call one of its 568 locations each year to get information, obtain technical support and buy products.
Watsco has launched a variety of customer-obssessed technologies to transform how HVAC contractors are served in the marketplace including:
- Mobile apps, websites and e-commerce platforms that employ the industry's leading, data-rich repository of product information.
- Business intelligence and data analytics to enable insightful decision-making by 600+ managers.
- Proprietary order fulfillment software to improve speed, accuracy and convenience of the pick, pack and ship process.
- Predictive analytics-driven demand planning and inventory optimization software to improve order fill-rates, increase inventory turns, reduce real estate requirements and improve long- term productivity.
Additional information about Watsco is available at http://www.watsco.com
Watsco Media Contact
Barry S. Logan
Senior Vice President
About Alert Labs
Alert Labs Inc. is a software, hardware, and IoT technology firm in Kitchener, Ontario, Canada. The experienced team designs and manufactures a suite of smart sensors that are on the cutting edge of property protection. These easy-to-use sensors use a cellular connection to provide real-time monitoring and 24/7 alerts with powerful analytics to reduce utility bills, property damage and repair costs for residential and commercial properties. The company partners with property managers, insurance companies, municipalities, schools and other organizations throughout North America.
Alert Labs Media Contact