Comcast and Alarm.com will buy and split Icontrol (CMCSA)

Cindy Ord / Getty Images

This story was delivered to BI Intelligence IoT Briefing subscribers. To learn more and subscribe, please click here.

Icontrol Networks, a smart home company that manages more than 36 million connected devices, has been acquired and split up by both Comcast and Alarm.com, according to Multichannel.com.

Alarm.com will be purchasing its share of Icontrol for $140 million, but no details were given on the amount Comcast spent in the acquisition.

Comcast is expected to acquire Icontrol’s Converge platform and wholesale business, which currently powers the touchscreen interface and backend servers for Comcast’s Xfinity Home. The Converge platform allows Comcast to communicate with and remotely manage security sensors and other devices that are part of the Xfinity Home offering.

Cox Communications, Bell Aliant, and Rogers Communications also use the Converge platform for their smart home offerings, Multichannel noted. Comcast will continue to run the Converge platform and sell it's service on a wholesale basis, according to VentureBeat.

Alarm.com will gain Icontrol's Connect and Piper business units. Connect is a platform for home security and home automation capabilities for subscription service providers. The platform underpins ADT's market-leading Pulse home security monitoring and automation service. Piper is a smart home hub and connected security camera that Icontrol produced and sold, and Alarm.com will now add to its own product portfolio.

To receive stories like this one directly to your inbox every morning, sign up for the Digital Media Briefing newsletter. Click here to learn more about how you can gain risk-free access today.