By Pietro Lombardi

 

Germany's E.ON SE (EOAN.XE) on Monday said that it has bought a stake in software startup Cuculus, whose core product is an IoT--internet of things--platform, for an undisclosed amount.

The two companies will work together to develop solutions for the intelligent house of the future, E.ON said.

The IoT allows a growing number of everyday devices to be connected via the web.

"Together with Cuculus, we are developing products that will form the core of the decentralized energy system of the future," Philipp Ulbrich, head of innovation scouting and strategic co-investment at E.ON, said.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

October 16, 2017 06:08 ET (10:08 GMT)

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