Amazon to Buy Wi-Fi Company Eero For Undisclosed Amount

E-commerce website Amazon is acquiring Wi-Fi start up Eero, which develops internet routers that can be easily connected at home.

Amazon made the announcement on Monday but did not disclose the terms of the deal. Shares of Netgear, a competitor, saw its shares fall on the news.

San Francisco-based Eero was founded by Nick Weaver, Nate Hardison, and Amos Schallich in 2014 to make Wi-Fi simple to use and easy to install for consumers at home.

The start-up had sold $2.5 million worth of products in 2015 according to CNBC reports. One Ero device goes for $199 and can cover as much as 1,500 square feet.

“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,” stated Dave Limp, senior vice president of Amazon devices and services.

“We are incredibly impressed with the eero team and how quickly they invented a WiFi solution that makes connected devices just work,” said Limp.

“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. “We started with WiFi because it’s the foundation of the modern home. Every customer deserves reliable and secure WiFi 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.”

According to Amazon’s press release, “With the easy-to-use eero app, customers can set up the system in under 10 minutes, share their network, program parental controls, and run speed tests on demand. Additionally, eero communicates with the cloud to receive instructions and updates. This means eero systems are self-updating, self-fixing, and self-improving all the time.”

Disclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.