Universal Electronics to Acquire RCS Technology

Universal Electronics Inc. (UEI) has entered into an agreement to acquire certain assets of Residential Control Systems, Inc. (RCS Technology), a designer and manufacturer of energy management and control products. The acquisition expands UEI's IoT portfolio into HVAC controls, smart thermostats, and energy monitoring. The purchase price is approximately $9 million in cash plus incentive-based consideration over five years.

“Universal Electronics Inc. (UEI), (NASDAQ:UEIC), the worldwide leader in universal control and sensing technologies for the smart home, has entered into an agreement to acquire certain assets of U.S.-based Residential Control Systems, Inc. (known as “RCS Technology”) - a leading designer and manufacturer of energy management and control products for the Residential, Commercial, and Hospitality markets.”

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