Just last week, Resideo purchased startup company Buoy Labs. This is the first acquisition from Resideo since the company completed its spin-off from Honeywell in October of last year. The purchase of Buoy Labs should greatly assist Resideo in its technology for environmental sensors.
Buoy Labs is best known for its smart home products that allow users to track the amount of water they use and quickly identify leaks. Their lineup fits in perfectly with Resideo. The company already offers many great flood detecting sensors. These include the Honeywell 5800FLOOD and the Honeywell 5821 when used with a Honeywell 470PB Probe or Honeywell FP280 Probe. Many of our monitored customers use these sensors to receive alerts in the event of a water leak. They can then take action before serious water damage occurs. This equipment works great with the wireless panels from Resideo, including the Honeywell Lyric Controller.
We believe that this acquisition will help Resideo make fantastic strides in its offering of environmental sensors, particularly for flood sensors. Buoy Labs has an impressive portfolio of smart home water management and water leak detection products. Resideo has cited industry studies claiming that homeowner's insurance companies pay more than $9 billion in water damage claims every year. The average claim is roughly $9,000. With the purchase of Buoy Labs, we expect that Resideo will achieve great success in reducing these figures and preventing house floods. And if you still don't think flood sensors are important, think again.
Alarm Grid will certainly keep you up-to-date with the latest news regarding any new environmental or flood sensors released from Resideo. This acquisition means Resideo has some big plans in store, and we are very excited to see what the future holds. Stick with Alarm Grid as we move forward in the exciting worlds of security, property protection and home automation!