Taylor Wessing has advised the sellers of AlertMe, the UK-based Internet of Things company, on the sale of the business to British Gas for £65 million.

AlertMe, provides a scalable, resilient and open platform to connect an ecosystem of devices and appliances in the home, allowing people to control and monitor everything from heating to web cameras  on their smartphones or tablets. The net cost of this acquisition to British Gas will be £44 million, taking into account an existing 21% holding in AlertMe.. It is anticipated that the transaction will be completed by the end of the first quarter of 2015.

Mary Turner, CEO of AlertMe, said in a company press release: "AlertMe has been the pioneer in establishing and growing the Internet of Things commercially in the UK and USA. We have created a market-leading Internet of Things platform and a highly experienced team of technologists and operational capability, which together have given us proven ability to serve mass market customers. We are excited to move forward with British Gas, with an opportunity to roll out service for tens of millions of homes, and to realise our ambition for further global distribution."

The Taylor Wessing team was led by Adrian Rainey, partner in the firm's international corporate technology team.

Rainey said: "This deal further highlights our position as a leader in the industries of tomorrow. The Internet of Things is much talked about, and AlertMe is a leading technology and service provider in this new market sector ."

This latest deal follows on from Taylor Wessing's role in the sale of Neul, the company that makes the radio modules that allow communication between devices, on its acquisition by Huawei in September 2014.

Taylor Wessing has one of the largest and most respected technology and communications practices, and has a separate corporate practice dedicated to the technology industry. The firm's Cambridge office allows Taylor Wessing to advise companies from the city's successful science and technology parks.