Daikin Applied acquires minority stake in building-automation software firm Riptide IO

Daikin Applied Americas acquired a minority ownership stake in Riptide IO, an IoT building-automation software company; terms undisclosed and existing leadership retained. Manufacturer stake deal, not a service-contractor roll-up.

“MINNEAPOLIS — Daikin Applied Americas announced it is acquiring a minority ownership stake in Riptide IO, a Santa Barbara, California-based software company that focuses on helping building owners connect, manage, and automate building equipment by bringing the benefit of the Internet of Things (IoT) to commercial buildings.”

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