British Gas takes over AlertMe for £44m

13th Feb 2015 12:41

British Gas will acquire AlertMe, an energy and home monitoring hardware company, for £44m, its parent Centrica announced on Friday.AlertMe, in which British Gas already owned a 21% stake, will give the group control over technology platforms, software development capacity, data analytics and a patent portfolio, it said.Currently, AlertMe provides the remote heating control product Hive Active Heating and other technology platforms to British Gas. The transaction is expected to be completed by the end of the first quarter of 2015."This demonstrates our continued commitment to innovate for our customers and reinforces British Gas' leading position in connected homes in the UK," the group said.Shares in Centrica fell 0.33% to 286.55p on Friday at 12:37.