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Buddy snags LIFX in utility smart home expansion, sign of trouble for startups

Buddy has acquired LIFX, one of the premier names in the smart lighting sector, for just $51mn – a bargain price, considering LIFX’s reported $25mn in annual revenues. It’s an indication that even the stronger brands in the smart home are running into trouble, as early investors start looking for their exits and subsequent returns. For Buddy, the LIFX lightbulbs are a way to expand its building energy monitoring platform, Ohm, which can leverage LIFX’s brand and install-base. LIFX has struggled in recent years, swamped by new rivals and also undercut by cheap alternatives that have flooded the market. It was best known for its colored LED lights, which could be controlled by applications and integrated into most smart home…

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