CE Pro July 2023 - 23

Networking+Home Control
SECURITY CORNER
Wesco Opens Solutions Innovation
Center & Partner Showcase
Wholesale distributor Wesco International has announced
an expanded portfolio of services designed to help customers,
suppliers and partners navigate an increasingly
dynamic global security marketplace.
Complementing Wesco's existing products and services
portfolio, the additional capabilities include the formation of
an Innovation Partner Ecosystem; the expansion of Internet
of Things (IoT) Advisory Services; and the opening of a new
solutions innovation center in Glenview, Ill.
" Wesco's innovative digital solutions are another synergy
resulting from the transformational combination of Wesco and
Anixter and represent a key milestone in achieving our vision
of being the best tech-enabled supply chain solutions provider
in the world, " says John Engel, Wesco president and CEO. " Our
expanded set of services will enable new markets and business
opportunities for our suppliers and strategic partners. "
The Pittsburgh-headquartered distributor says its newly
formed Innovation Partner Ecosystem will collaborate to
develop solutions to help end customers achieve aggressive
goals around electrification, automation and IoT, grid modernization,
security, supply chain consolidation and digitalization.
Comprising a powerful group of product and software companies,
the consortium includes: APC, Arcules, Axis CommuWesco
plans to develop and demo connected solutions
from suppliers and its newly formed Innovation Partner
Ecosystem in the new Glenview, Ill., facility.
nications, Belden, Bosch, Cisco Meraki, Commscope, Corning,
Crestron, DMI, Eaton, Leviton Manufacturing and Panduit.
Wesco, which merged with leading security distributor
Anixter a few years ago, has also expanded its global IoT advisory
services. As IT and operations technology (OT) come
together, customers across every sector are looking to gain
real-time, data-driven insights into their businesses, says the
distributor. Through its combination of IT and OT expertise,
deployment support, installation enhancement services,
broad portfolio of products and supply chain expertise,
Wesco says it aims to help integrators harness IoT.
Latch to Acquire Siminoff Brand Honest Day's Work
Latch Inc., maker of LatchOS,
a full-building enterprise
software-as-a-service (SaaS)
access control platform,
announced it has entered
into a definitive agreement
to acquire Honest Day's
Work (HDW), Ring founder
Jamie Siminoff's latest company
dedicated to enabling
residential service providers,
such as housekeepers,
dog walkers, and drivers,
to operate more efficiently,
profitably, and independently
through technology.
The acquisition will
integrate the two companies'
teams, resources, and
know-how. Jamie Siminoff
cepro.com
is expected to take over as
Latch's CEO later this year,
and the combined company
plans to remain focused in
the near term on optimizing
efficiency and ensuring
continued excellence for
customers, according to a
press release.
Latch will acquire 100% of
the capital stock of Honest
Day's Work in exchange for
approximately 29 million
shares of Latch's common
stock, subject to certain
time-based and stock
performance-based transfer
restrictions, and $22 million
aggregate principal amount
of unsecured promissory
notes. Thirty HDW team
members are expected to
join Latch post-transaction.
The transaction is expected
to close at the beginning of
the third quarter of 2023,
subject to customary closing
conditions.
" We're pleased to join
forces with Jamie and his
team as we continue on
our current path of driving
operational performance
and sustainable growth, "
says Jason Keyes, Latch Interim
CEO. " I am confident
Jamie's passion for leading
mission-driven technology
companies, his operational
expertise, and his track
Ring and HDW founder
Jamie Siminoff is expected
to take over as Latch
CEO this year.
record for creating industry-dominating
products
will be invaluable as Latch
enters its next phase. "
Siminoff is the founder of
Ring, which was acquired by
Amazon in 2018.
July 2023 CE Pro | 23
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CE Pro July 2023

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