Centrica has added a water technology company to its growing “internet of things” portfolio.
FlowGem Limited, a UK business developing innovative technology to remotely detect water leaks, has been sold for £13 million to Centrica Connected Home.
The Connected Home part of the business specialises in the “internet of things”, which is the interconnection of electronics, software and sensors that enable smart household appliances to collect and exchange data. This increases their efficiency and usability.
The energy giant plans to invest £500 million in Connected Home by 2020.
It previously bought AlertMe, a company that helps consumers control their heating and hot water remotely.
Nina Bhatia, Managing Director of Centrica’s Connected Home business, said: “This acquisition will enable us to expand what we can do to help customers manage their homes more effectively using technology and will enrich the offer from our existing services businesses.”