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Multinational: ABB, Bosch, Cisco, LG band together for smart homes

 |  October 30, 2013

Four major companies have announced plans to join together and create a consortium in efforts to develop software technology for so-called smart homes.

US-based ABB and Cisco, along with Germany-based Bosch and South Korea-based LG announced plans for a joint venture Wednesday. The four have reportedly signed a memorandum of understanding, which sets up data exchange between the firms as well as software distribution.

According to a press release, the smart homes will use technology for “safety, convenience, [and] efficiency” of everyday living, from linking open windows to weather forecasts, to security services.

The joint venture remains subject to regulatory approval.

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