Cable giant Comcast Corp. has agreed to acquire Icontrol Networks Inc. in a deal for the company's Internet of Things technology. Financial terms of the deal weren’t disclosed. Icontrol Networks, which is based in Austin, Texas, has raised $93.5 million from venture-capital backers including Kleiner Perkins Caufield & Byers, Intel Capital and Comcast Ventures, according to Dow Jones VentureSource. The Icontrol Converge software platform has been the system behind Comcast's Xfinity Home system for touch-screen panels and works with servers in the background. The software enables communication and management for home sensors as well as cameras and thermostats. Separately, Alarm.com said on Thursday it has agreed to acquire the other elements of Icontrol's business. Icontrol, founded in 2003, supports connected home security and does business with a number of Xfinity Home's competitors, including COX Homelife and Time Warner Cable IntelligentHome.
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