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JANUARY 2019

Nice enters the Canadian market acquiring Micanan, an excellence in the garage door automation sector

Nice enters the Canadian market acquiring Micanan, an excellence in the garage door automation sector

Nice continues to expand at international level and to consolidate its product portfolio, confirming its position of global leadership in the Home Automation, Home Security and Smart Home sector, with the acquisition of Micanan, a premier Canadian company offering garage door automation systems for commercial and industrial applications since 1999.

Based in Montreal, Quebec (Canada), Micanan serves the North American market through its U.S. branches in Chicago (Illinois), Atlanta (Georgia) and Phoenix (Arizona), designing and producing custom garage door automation solutions with the highest quality standards, aimed at ensuring the utmost reliability for its customers.

Micanan's customers portfolio includes exceptional installations for Apple, Tesla, SpaceX, the United States Navy and the United States Federal Reserve, offering a safe automated opening and closing speed that is twice the market standards. Micanan's crown jewels are its wireless control units, which offer a simple, convenient and functional installation experience in addition to the automation speed control devices, which significantly extend the system's life, thus reducing the need for maintenance. In 2017 Micanan reported consolidated revenues of 16.6 million Canadian dollars and an adjusted EBITDA of approximately 1.2 million Canadian dollars.

“We are pleased to begin the new year with the announcement of this international deal,” commented Lauro Buoro, Nice's Founder and Chairman, “which allows us to continue our growth by offering one of the broadest and most complete product portfolio worldwide in the Home Automation, Home Security and Smart Home sector, in particular on the North American market, being strategic for the Group's development. In fact, we can count on a direct widespread presence in North America, thanks to the 6 operating units and to the online technological and commercial platform of Abode, the company we have recently acquired, for a connected and secure home”.

Mike Apergis, Micanan's Vice President, commented: “We are pleased to be joining a solid, international group such as Nice, characterized by its constant ability to grow on international markets and expand its range of products and services. This deal will allow us to benefit from technological and commercial synergies, while continuing to focus on our professional customers, whom we also offer custom design and development of solutions for specific installation needs”.