Partnership leverages each company’s best of breed commercial and residential solutions and positions future joint development.
AUSTIN, TX, September 6th, 2007— Cortexa Technology, Inc., (“Cortexa”), a developer of home control technology and related products, has announced that it has entered into a strategic alliance with Convia, Inc. a provider of modular, programmable electrical and data building infrastructure for commercial buildings. As part of the strategic alliance, Convia will hold a financial interest in Cortexa LLC. Terms of the transaction were not disclosed.
William Martin, co-founder at Cortexa, said “The Convia transaction serves as a high-profile validation of Cortexa’s technology and development strategy. We will continue working diligently to determine the most opportunistic yet financially prudent path to drive sales of our product in the residential mass market“.
Cortexa will work to integrate elements of Convia’s technology that are applicable to the residential market -- an initial area of focus will target energy monitoring and management systems.
Randy Storch, President of Convia, said "Convia’s Programmable Infrastructure is helping to rewire the commercial building environment for the 21st century. With its energy saving attributes and superior flexibility the system will undoubtedly become an industry norm in the commercial market”.
Founded in 2006 and headquartered in Chicago, Convia is dedicated to offering customers agile and programmable environments, which allow for radically flexible spaces. The signature Convia product is an electrical infrastructure that replaces the traditional "pipe and wire" approach to delivering electric in a space. It allows for the complete virtual rewiring of an entire floor or building in just minutes. Additionally, it has an embedded lighting control, enabling sophisticated energy savings strategies to be implemented in a space at a lower cost of traditional methods.
Launched to exploit the rapidly emerging market for home control systems, Cortexa designs, manufactures and markets home control systems that integrate and manage all major systems within the home: security, HVAC, video surveillance, audio distribution, lighting, irrigation and consumer electronic devices such as TVs, DVDs, DVRs etc. Founded in 2004, the privately-held company has developed an innovative yet affordable home control system, which may also be fully integrated with Microsoft Media Center for seamless integration of home control and home entertainment systems.
In 2000, the market for home control products was estimated at $700 million. By 2009, analysts expect the market to jump to $3.2 billion. Companies such as Cisco, Dell, H-P, Apple, Intel and Microsoft are investing in marketing and product development to facilitate the convergence of information and technology and to educate consumers about the benefits of these systems.
About Cortexa LLC
Based in Austin, Texas, Cortexa LLC is a privately held company that develops and markets home control systems bringing increased functionality and efficiency to all homes with an emphasis on the mass market. The Cortexa product is engineered from the ground up and includes both the software and solid state hardware. The company’s founders are passionate about providing home control systems that unleash the latest technology by seamlessly converging digital entertainment with the home control systems. The product is completely affordable, dependable and usable for the average homeowner. To find out more about Cortexa, visit www.cortexatechnology.com.
About Convia, Inc.
Convia, Inc. seeks to change the way people design, build, personalize, and manage space. Founded in 2006 and headquartered in Chicago, Convia is dedicated to offering customers agile and programmable environments, which allow for radically flexible spaces. For more information about Convia Programmable Infrastructure, visit www.hmconvia.com.
AUSTIN, TX, September 6th, 2007— Cortexa Technology, Inc., (“Cortexa”), a developer of home control technology and related products, has announced that it has entered into a strategic alliance with Convia, Inc. a provider of modular, programmable electrical and data building infrastructure for commercial buildings. As part of the strategic alliance, Convia will hold a financial interest in Cortexa LLC. Terms of the transaction were not disclosed.
William Martin, co-founder at Cortexa, said “The Convia transaction serves as a high-profile validation of Cortexa’s technology and development strategy. We will continue working diligently to determine the most opportunistic yet financially prudent path to drive sales of our product in the residential mass market“.
Cortexa will work to integrate elements of Convia’s technology that are applicable to the residential market -- an initial area of focus will target energy monitoring and management systems.
Randy Storch, President of Convia, said "Convia’s Programmable Infrastructure is helping to rewire the commercial building environment for the 21st century. With its energy saving attributes and superior flexibility the system will undoubtedly become an industry norm in the commercial market”.
Founded in 2006 and headquartered in Chicago, Convia is dedicated to offering customers agile and programmable environments, which allow for radically flexible spaces. The signature Convia product is an electrical infrastructure that replaces the traditional "pipe and wire" approach to delivering electric in a space. It allows for the complete virtual rewiring of an entire floor or building in just minutes. Additionally, it has an embedded lighting control, enabling sophisticated energy savings strategies to be implemented in a space at a lower cost of traditional methods.
Launched to exploit the rapidly emerging market for home control systems, Cortexa designs, manufactures and markets home control systems that integrate and manage all major systems within the home: security, HVAC, video surveillance, audio distribution, lighting, irrigation and consumer electronic devices such as TVs, DVDs, DVRs etc. Founded in 2004, the privately-held company has developed an innovative yet affordable home control system, which may also be fully integrated with Microsoft Media Center for seamless integration of home control and home entertainment systems.
In 2000, the market for home control products was estimated at $700 million. By 2009, analysts expect the market to jump to $3.2 billion. Companies such as Cisco, Dell, H-P, Apple, Intel and Microsoft are investing in marketing and product development to facilitate the convergence of information and technology and to educate consumers about the benefits of these systems.
About Cortexa LLC
Based in Austin, Texas, Cortexa LLC is a privately held company that develops and markets home control systems bringing increased functionality and efficiency to all homes with an emphasis on the mass market. The Cortexa product is engineered from the ground up and includes both the software and solid state hardware. The company’s founders are passionate about providing home control systems that unleash the latest technology by seamlessly converging digital entertainment with the home control systems. The product is completely affordable, dependable and usable for the average homeowner. To find out more about Cortexa, visit www.cortexatechnology.com.
About Convia, Inc.
Convia, Inc. seeks to change the way people design, build, personalize, and manage space. Founded in 2006 and headquartered in Chicago, Convia is dedicated to offering customers agile and programmable environments, which allow for radically flexible spaces. For more information about Convia Programmable Infrastructure, visit www.hmconvia.com.
