KKR Invests In Smart Home Tech Company Savant Systems
Private equity firm KKR & Co LLP said on Wednesday that it is investing $90 million in Savant Systems, a company that helps control the lighting, temperature and TVs in some of the world’s wealthiest homes. Chief Executive Officer William Lynch said in an interview, It sells home automation systems to the luxury market and can be found in homes of tech CEOs and musicians. The systems, which runs on a home’s Wifi network, can control everything in a house from energy, lighting, music to a Comcast cable box, all from a phone. Lynch added, the company’s compounded annual growth rate has been 50 percent over the past five years.
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