“We are forging the path to transform the HVAC industry, driving beyond next level efficiency and innovating for total building solutions,” said Schwartz. “This move is a terrific pivot point for us and for the industry as we continue to explore how to help building owners get to new levels of efficiency when they unlock the power of IoT.”

The company says this move affirms Daikin Applied’s investment in intelligent equipment and the market’s response to the platform.

“We are working with the Riptide IO team on strategies that will further leverage the technology and software in meaningful ways to drive growth in mid-market building automation. We’re confident this is the team to create a unique building experience with advanced technology,” Schwartz added.

Riptide IO brings experience that includes working with organizations that prioritize sustainability and energy efficiency, including several Fortune 100 companies. Company officials said the Riptide IO team has a track record of bringing cloud-based automation to small buildings that translates to lower complexity and creates smarter buildings.

“We’re thrilled to deepen our relationship with Daikin Applied because we’ve seen a clear commitment on their part to look at the market differently than other HVAC companies,” said Mike Franco, CEO and co-founder of Riptide IO. “As we’ve partnered over the last two years, we believe, as does Daikin Applied, that there is significant potential in moving beyond the HVAC arena to the total building offering. We’re excited to be aligned as we see them as an important, long-term partner in accelerating how IoT will transform the commercial building experience.”