India’s leading wire cable and fast-moving electrical goods manufacturer, Polycab India recently acquired smart home automation player, Silvan Innovation Labs. The acquisition will further enhance Polycab’s capabilities in the smart automation, smart home devices and smart enterprise solutions space. We spoke to Manoj Verma – Executive President and COO, Polycab India Ltd., on the acquisition and way ahead. Excerpts from the interaction
Q1) Tell us about the strategy to acquire Silvan Innovation Labs
With technology increasingly influencing our lifestyle, a natural extension to this phenomenon is the emergence of smart automation concept that promises to enhance our lifestyle to a higher experience level. Polycab already serves this space with bouquet of offerings such as smart fans, smart lighting, IR blaster, smart plugs, smart heater to name a few. We are proactively working to up our game in this space and towards this as an objective to enhance our capabilities, we shortlisted upon Silvan Innovation Labs since the company too has quickly made its mark as a formidable start-up with distinct capabilities in the smart home automation space.
Q2) What kind of legacy does Silvan bring onboard?
Silvan has successfully installed over 100,000 devices in more than 8,000 homes as well as offices. Its innovation focus can be gauged from the fact that it has over 17 patents under its fold that include filed and provisional. Its capabilities portfolio spans across lighting management systems, room automation, temperature control devices, contactless controls, curtain control, security devices, among others.
Q3) What are your business plans post acquisition?
We have given ourselves a target to attain a consumer-centric identity. The domain strength of Silvan combined with our robust go-to-market capabilities offers an immense business potential. We aim to develop smart home experience enabling new-age innovations and look forward to delivering value proposition in line with evolving consumer needs.
Q4) What are the application segments that shall get catered to with this acquisition?
A) Home automation
B) Security systems
C) Access control
D) Office Industry and Infrastructure automation
E) Building management services