Smart Homes Solution Provider Vivint Acquires Cloud Storage Company Space Monkey
 Smart homes solution provider Vivint has acquired cloud storage company Space Monkey, Forbes online reports. The company, based in Provo, Utah, is one of the largest smart home solutions companies in the United States and Canada, catering to around 800,000 customers with home automation systems that include smart security, energy, control and solar solutions. The cost of the deal was not disclosed, but it was disclosed that Space Monkey would operate as an independent entity for the foreseeable future. The company's 16 staff members will relocate to Vivint’s premises. Founded in 2011, Space Monkey provides consumer cloud storage options. Whereas other storage companies store data on cloud-based servers, Space Monkey provides customers with a hard drive which is connected to other Space Monkey hard drives to establish a distributed cloud. One user's data is automatically backed up on the other hard drives in the cloud network, meaning it is stored on thousands of drives. Space Monkey's approach costs considerably less than the traditional servers and data centers approach. After the initial $200 cost for a hard drive, the service costs only $50 per year for 1 terabyte of storage. This compares favorably against some players - Google Drive offer 1 terabyte of storage for $9.99 per user per month, and Dropbox costs $100 a year. Some players have though reduced costs substantially. Microsoft's OneDrive offers 1 terabyte of storage for $30 per year. However, Vivint's acquisition is not likely to solely be driven by the Space Monkey's ability to compete with others in the current storage wars. “It doesn’t take a rocket scientists to see how storing data fits into the smart home,” suggested Space Monkey's co-founder Clint Gordon-Carroll in telephone interview with Forbes. “Think about storing all the video captured on security cameras.” “Having a physical location gives you some efficiency,” added Space Monkey's other co-founder Alen Peacock. “If you’re recording a video in the home, it’s much faster to transfer that video to another device in the home network than it is to upload thousands of miles away in a data center.” Do you know of any other companies involved in acquisitions? Let us know the details. Add your comments below. Comment News
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