Electrolux acquires smart kitchen startup for $250 million

The acquisition signals the appliance giant's efforts to expand further into the US market, as well as tap into the connected home and kitchen.

February 08, 2017

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The acquisition signals the appliance giant's efforts to expand further into the US market, as well as tap into the connected home and kitchen.

Anova's first precision cooker was successfully crowdfunded on Kickstarter for $1.8 million.
Source: Anova Culinary

Anova, the US startup that made waves on Kickstarter with a smart precision cooker, has been officially bought by Electrolux for $250 million.

Sweden-based Electrolux, currently the second largest manufacturer of major appliances, seeks to solidify growth and profit by expanding further its line of Internet-connected appliances for the home and kitchen. In an effort to be more consumer-oriented, the company also plans to adopt Anova's direct-to-consumer business model and digital practices.

The acquisition will also benefit Electrolux in terms of fortifying its presence in the US market, following a failed deal with General Electronics, which settled with China's Haier. As part of its transaction with Anova, Electrolux will open a smart home solutions center in San Francisco to aid in the innovation of connected appliances.

Meanwhile, Anova, in a press release, announced that it will still retain its brand name and unique culture under the leadership of founder and CEO Steve Svajian.

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