Is Insteon Bankrupt? What You Need to Know
If you're a fan of home automation, you may have heard the rumors circulating about Insteon going bankrupt. As a popular smart home brand, this potential development may make you anxious, especially if you're currently using Insteon products in your home.
So, what's going on with Insteon? Are they really going bankrupt? Here's what you need to know.
Is Insteon Going Bankrupt?
The short answer is no, Insteon is not going bankrupt. However, there is some context you need to understand.
In 2020, Insteon's parent company, Smartlabs, filed for Chapter 7 bankruptcy. This filing was for Smartlabs as a business entity, not Insteon as a brand.
Since this filing, Insteon has been acquired by another smart home brand called Ezlo Innovation. Ezlo Innovation is committed to continuing the Insteon brand, and the Insteon line of products will remain available and supported.
What Does This Mean for Insteon Customers?
If you're currently using Insteon products, don't worry, you don't need to replace your existing home automation setup. Insteon products, including the Insteon Hub, switches, dimmers, thermostats, and more, are still available and will continue to be supported.
If you're considering purchasing an Insteon product, you can still do so with confidence. The acquisition by Ezlo Innovation has solidified Insteon's future in the smart home market.
Conclusion
Insteon is not going bankrupt. Their parent company filed for Chapter 7 bankruptcy, but the Insteon brand was acquired by another company, Ezlo Innovation, and will continue to be available and supported.
As a home automation enthusiast, you can continue using Insteon products or consider them in your future smart home plans.
Posted on: May 15, 2022 Last updated at: May 4, 2023