Tado buys Austrian company

With the acquisition, the proptech now also offers its tariffs on a time-variable basis and therefore at a lower price.

Proptech Tado has announced its first acquisition: The Munich-based company has bought the Austrian company Awattar. The purchase price consists of shares in Tado and a cash payment. Awattar founders Simon Schmitz and Peter Netbal will continue to run their brand as managing directors and will also become shareholders in Tado. "We can hardly wait to further develop these technologies together for our customers," says Schmitz happily.

While Tado offers smart thermostats for automated room management, customers can now combine this with Awattar's electricity tariffs. The Austrians have time-variable tariffs, while Awattar provides electricity suppliers with a platform for flexible marketing and private customers with specific tariffs. Electricity from renewable energies is used at particularly favorable times, for example to charge electric cars or the heat storage system at these times.

"This way, the electricity grids are also relieved at critical times," explains Tado co-founder Christian Deilmann to the Handelsblatt. This could save up to 40 percent on electricity costs. With Tado, this works thanks to the algorithms that coordinate the customer's automated heating and energy system. For example, heating and air conditioning can be managed via the app shortly before arriving home or the system itself recognizes that no one is currently in the home and shuts down the systems. According to Tado, it works with twelve of the 20 largest energy suppliers in Europe and has networked 400,000 buildings and households with its smart home approach.