Amazon is acquiring WiFi router company Eero (AMZN)

Jeff Bezos.JPG

Amazon is acquiring the home mesh WiFi router company Eero, the companies announced in a press release Monday.

Eero was last valued at $215 million in a Series D in 2017, according to PitchBook. It’s backed by firms including Qualcomm and Shasta Ventures. The terms of the deal were not disclosed.

Eero was one of the pioneers of so-called mesh networking: Rather than rely on one WiFi router to cover an entire home or office, Eero asks customers to plug in several smaller routers. Each so-called Eero Beacon added to the system improves the WiFi coverage by 1,000 square feet, the company says, bringing a strong WiFi signal to all corners – even in the largest of spaces.

“We are incredibly impressed with the eero team and how quickly they invented a WiFi solution that makes connected devices just work,” said Dave Limp, SVP of Amazon Devices and Services, said in a statement. “We have a shared vision that the smart home experience can get even easier, and we’re committed to continue innovating on behalf of customers.”

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Source:: Business Insider


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