Amazon.com Inc. (AMZN) reached an agreement to acquire Eero, a maker of "mesh" Wi-Fi systems for the home.
"We are incredibly impressed with the Eero team and how quickly they invented a Wi-Fi solution that makes connected devices just work," said Dave Limp, vice president of Amazon Devices and Services. "We have a shared vision that the smart home experience can get even easier, and we're committed to continue innovating on behalf of customers."
Eero's devices that spread Wi-Fi throughout a home or office sell for about $200 and up. The company promises to eliminate Wi-Fi dead zones.
"From the beginning, Eero's mission has been to make the technology in homes just work," said Nick Weaver, co-founder and CEO of Eero, in a statement. "We started with Wi-Fi because it's the foundation of the modern home. Every customer deserves reliable and secure Wi-Fi in every room. By joining the Amazon family, we're excited to learn from and work closely with a team that is defining the future of the home, accelerate our mission, and bring Eero systems to more customers around the globe."
Terms of the deal weren't disclosed but Eero was valued at $251 million in a 2016 private financing round, according to an estimate by Sand Hill Econometrics, The Wall Street Journal reported. The San Francisco startup raised almost $100 million in venture capital from investors including Index Ventures, Initialized Capital and Menlo Ventures.