Home Security Deal: iControl Acquires Piper

By: John Honovich, Published on Apr 09, 2014

Almost every month, a new security / surveillance company launches a crowdsourcing campaign. In 2013, one notable startup was Black Sumac's Piper [link no longer available], that raised $300,000 on IndieGoGo for an all-in-one HD fisheye camera, alarm siren, temperature / humidity sensor and a Z-wave hub, for less than $250.

Now, they are being acquired by iControl [link no longer available], a $100+ million Silicon Valley VC funded company.

In this note, we look at the potential of thi deal and its impact on the hot home security / surveillance market.

****** ***** *****, * new ******** / ************ company ******** * ************* campaign. ** ****, *** notable ******* *** ***** Sumac's ***** [**** ** longer *********], ********** $***,*** ** ********* *** *****-**-*** ** ******* ******, ***** siren, *********** / ******** sensor *** * *-**** hub, *** **** **** $250.

***, **** *** ***** acquired ** ******** [**** no ****** *********], * $100+ ******* ******* ****** VC ****** *******.

** **** ****, ** look ** *** ********* of *** **** *** its ****** ** *** hot **** ******** / surveillance ******.

[***************]

iControl's ***********

******** **** ****** ***** ** the ***** *** ** the ******, ** ***** words, "****** **********, ********-******** ********** and ************* *********."

**** ***********, ****** ********'* traditional *** ******** *****, where **** **** * component ** ********* ********* by [**** ** ****** available] ***, ***, *******, TimeWarner, ***., ******** **** that ***** **** ***** them ** "****** **** ***, ******** markets **** **** ***** us *** **** ****** to *** ****** ** a **** ********** ******** for ***** *********."

*** ****** **** ** whether ******** **** ****** a ********** ** ***** ******** partners ******* ***** *** been **** ****** ** end ***** ******* *** monthly ****, *** ******** that ******* ********* ** not **** ** *** from ***** ****.

Deal ********

**** ** ******** ** be * **** **** for *****:

  • ******* *** **** ***** rather **** ******* ** funding ** * *** sign, ********** ** * market ***** ** ***** is ** ******* *********.
  • ***** ******** ** * privately **** ******* ***** there ** ******** *** '******* out' *** **** *****'* investors *** ********** **** hold ******** ******* ******** shares.
  • ******** ****** *** ****** through ~$*** ******* ** VC ******* **** *** past ****** *** **** not ****** ******** ***** to * ****** ** financial *******.

** *** ********, *** product, ***** ********* ** still **** ***** *****, only ******** ** **** in *** **** *** months. **** ***** ** will ******* *********** ********** development ** **** ** a ***** *********** **** an *********** ******** **** iControl's ******** ******** ****.

**** **** *** *********** mean ******** *** *** the ******** ******** *****, as ***** *** **** active ******** *******, *** this ** **** *** deal.

Comments (6)

This is unlikely to be a good deal for Piper:

Why would CEO Ure be all "incredibly excited" if he got dealt with the short end of the deck? Are you allowed lying in forward looking SEC documents?

"We are incredibly excited that Piper is joining forces with iControl, and look forward to bringing iControl's ecosystem to the next level,” said Russell Ure, CEO of Blacksumac

Here you can not get away with things like that, everyone knows you have to 'Pay the Piper!"

First of all, both are privately held companies, so they can say whatever they want and the SEC has no grounds or authority. This is just a press release.

Secondly, saying he is 'incredibly excited' is just puffery. And, so, yes, what else is he going to say in the press release? "I am bummed that we had to settle for selling out for speculative paper of a company that burned $100 million already."

That said, I am sure he is excited that his project lives on and now has a chance with a bigger company.

Secondly, saying he is 'incredibly excited' is just puffery.

Great word, puffery, didn't know it had such a precise and even legal definition. But as opposed to late-night infomercials and those hocking $1 franklin minted coins for $20, where the puffery is believed by some; who really believes, no offense Tedor, statements like that?

So do they have to say it because we expect to hear a bald face whopper or else we will think he must be beyond pissed, if he won't even have the common courtesy to lie his ass off?

This statement from the release I would guess got more than its share of derision from the Piper developers:

The Piper team will remain located in Ottawa, Ontario, and will immediately benefit from the scalability and robustness of the core iControl OpenHome architecture.

"Yeah, thank god we got that iControl core now with all of its instant scalability, not to mention the fact that we really could use some robustness in our architecture, since we all obviously suck..."

In my experience, executives typically do not write the quotes that are attributed to them. Someone in marketing or PR drafts the full release and the execs generally rubber stamp it.

True that, but my point was more regardless of who invents it, who believes it?

PR people are typically ignorant optimists, so they believe it.

And I don't mean it as a criticism, it's like a good QA person is critical and skeptical.

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