In 2021, the merger between Waterguard and Fell Tech marked a significant milestone in the expansion and growth of smart home and building solutions. Waterguard, the market leading provider in the Nordics of water leak protection systems with more than 600.000 installed units, joined forces with Fell Tech, a leader in smart IoT safety adn security systems with significant history developing advanced IoT security and safety systems in the marine market.
The union of these two companies creates a solid foundation for accelerating growth in the Home and Building business area for FelL Tech, enabling substantial investments in the development of the new Abra ecosystem from 2021 through 2023. With Waterguard as an integrated part of the Abra ecosystem, the merged company has secured a distribution of 70,000 units of smart hubs, called Linkbox+, into Norwegian homes and buildings each year. This important positioning makes Fell Tech the largest supplier of an IoT home and building plattform in Norway, and expects to have more than 300.000 connected homes and buildings active on the Abra plattform by 2027 as Linkbox+ units distribute in the Waterguard distribution channel and in other channels such as through insurance companies, eletrical wholesalers, retail stores and direct-to-consumer.
The strategic merger has enabled unique value propositions for homeowners, home associations, builders, and installers to leverage the Abra ecosystem as an embedded infrastructure in their homes and buildings. By providing efficient and deep integrations for water leak protection, fire protection, access control, energy control, EV charging, HVAC control, and comfort solutions, the Abra ecosystem offers an all-in-one platform for a comprehensive and sustainable living experience.
The integration of Waterguard into the Abra ecosystem has resulted in the distribution of Linkbox+ smart hubs across Norwegian homes and buildings. The Linkbox+ serves as a central hub for the various services and integrations offered by the Abra ecosystem. This distribution is crucial for the seamless integration of all the components that make up the Abra ecosystem, ensuring that installers and builders can leverage their existing value chain, and enable smart and sustainable homes and buildings efficiently and without adding cost to their building projects.
For homeowners and home associations, the Abra ecosystem offers an all-encompassing solution to managing their properties effectively and sustainably. The platform provides a range of services, from water leak protection to access control and energy management, ensuring that all aspects of a property are managed efficiently. This not only reduces the risk of damage to properties but also leads to significant cost savings for homeowners and associations.
Builders and installers can also benefit from the Abra ecosystem by offering their clients a comprehensive solution for their homes and buildings. By embedding the Abra ecosystem into new construction projects, builders can provide their clients with a smart and sustainable living experience that is tailored to their needs. The various integrations offered by the platform can be customized to suit individual preferences, ensuring that each home or building is equipped with the best possible solutions for its occupants.
The merger of Waterguard and Fell Tech has created a strong foundation for the growth and innovation of the Abra ecosystem in the Home and Building business area. The integration of Waterguard's expertise in water leak protection into the Abra ecosystem has ensures that customers can access a comprehensive range of services on a single platform.