Polycab India (PIL) has signed an agreement to acquire 100% stake in Silvan Innovation Labs (Silvan).
Silvan is a technology company focused on providing cutting edge automation offerings for homes, offices, banks, retail outlets, hotels and other spaces. Silvan pioneered the concept of home automation in the Indian residential building market and has a proven track record with many prominent real estate developers.
Silvan has successfully installed over 100,000 devices in more than 8,000 homes and offices. It was founded in 2008 by four electronics and embedded systems domain veterans possessing a cumulative experience of 120 years in reputed companies like Texas Instruments and Lucent Technologies.
The founders hold advanced degrees from the premier engineering institutions in India and three of them, namely Dr. Giridhar Krishna, Mohan Gopalakrishna and Ajay Gupta will be continuing with PIL post acquisition. The company has 17 patents, including filed and provisional, and is based out of Bangalore.
Silvan's IOT based automation products and solutions portfolio includes lighting management system, room automation, temperature control devices, contactless controls, curtain control, security devices amongst others. This is complemented by its application and cloud platform (IPSM) for value-added services and has integrated capabilities on various third-party cloud platforms such as AWS, Google Cloud, Samsung Smart things, and IBM Watson.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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