KKR backs $90m investment in smart home tech company Savant Systems


savantUS buyout major KKR has teamed with Savant Systems founder Robert Madonna to invest $90m in the smart home tech and automation company.

Savant designs, develops and manufactures software and hardware for the connected home, including lighting control, energy management, digital display and telephony.

KKR co-head of technology investing David Kerko said, “Savant is positioned very well to play a leading role in defining the future of home automation given its strong technology platform and user-centric experience.

“We believe Savant will continue to introduce highly innovative smart home automation solutions that will dramatically shift the way everyone interacts with their home.”

KKR said it has a deep history of investing in significant companies in the consumer product and technology space.

The firm backed wireless home music player maker Sonos in 2012.

Copyright © 2014 AltAssets