Tado buys Austrian company

With the acquisition, the proptech is now offering its tariffs in a time-variable way, making them cheaper.

Proptech Tado has announced its first acquisition: The Munich-based company has bought the Austrian company Awattar. The purchase price is made up of shares in Tado and a cash payment. Awattar founders Simon Schmitz and Peter Netbal will continue to manage their brand as CEOs, and they will also become shareholders in Tado. "We can't wait to continue developing these technologies together for our customers," Schmitz enthuses.

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, electricity suppliers receive the platform for flexible marketing through Awattar, and private customers receive concrete tariffs. Electricity from renewable energies is used at particularly favorable moments to charge e-cars or the heat storage system at these times, for example.

"This way, the electricity grids are also relieved at critical moments," Tado co-founder Christian Deilmann explained to the Handelsblatt. This could save up to 40 percent in electricity costs. This works at Tado through the algorithms that coordinate the automated heating and energy system of the customers. 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 in the apartment at the moment and shuts down the systems. According to its own information, Tado works with twelve of the 20 largest energy suppliers in Europe and has networked 400,000 buildings and households with its smarthome approach.