IoT company Smartfrog takes controlling interest in Canary –
Summary
Smartfrog CEO Charles Fraenkl will retain the top spot at the combined companies, while Bob Stohrer, Canary’s CMO, will be put in charge of its New York-based operations. From a strategic standpoint, the move gives Smartfrog a foothold in the States, while potentially affording Canary the ability to spread into the EU. With artificial intelligence, machine learning initiatives, easy-to-use products and affordable prices, the group ensures continued consumer benefits and accelerated global growth. “Canary´s achievements — in creating an award-winning smart home security solution and becoming one of the fastest-growing category leaders in US — is nothing short of impressive,” Fraenkl said in a statement. “By joining forces, the group will be well positioned in an increasingly competitive market.” Canary will continue to function as an independent brand, moving forward.