Comcast’s closure of IoT startup Icontrol Networks not only gives the MSO the ability to control the North American cable home automation and security business through white-label licensing, it also offers entry into a key engineering talent hub.
“We already have great engineering talent in Philadelphia and Silicon Valley. Our intention now is to invest in Austin and tap into the [University of Texas crowd] and other engineers in the area,” Dan Herscovici, senior VP and general manager of Xfinity Home, told FierceCable.
Announcing last week the closure of its Icontrol purchase, Comcast said it would establish an "IoT Center of Excellence" within Icontrol’s Austin headquarters. Currently, around 90 employees work at the Icontrol facility
Comcast’s engineering prowess, Herscovici said, will be further buttressed by building a “great triangle” between Philly, Sunnyvale and Austin. He called the latter area “crane city,” remarking on all the high-rise development associated with numerous tech companies moving to the region.
RELATED: Comcast closes Icontrol Networks buy, set to license Xfinity Home to other MSOs
Launched in 2012, Icontrol provides the home security backbone to services provided by the likes of Charter and Cox, as well as Canada’s Rogers and Shaw.
“Comcast is excited as it takes on those customer relationships, and we’re excited to invest in a wholesale business build around this home security platform,” the Philadelphia-based Herscovici said.
The executive noted, meanwhile, that Comcast Ventures was one of Icontrol’s backers as the startup raised more than $93 million over five rounds of private funding.
“[Comcast] Ventures saw the opportunity of IoT and connected security well ahead of Comsat’s launch of a consumer-facing business,” Herscovici said.