Even the Most Interesting Man in the World couldn’t make Luma work as standalone company

Luma, a three-year-old, Atlanta, Ga.-based maker of smart Wi-Fi routers, has been acquired by First Alert, a maker of smoke and carbon monoxide detectors that is itself a subsidiary of Newell Brands, a public company whose other holdings include Rubbermaid.

Terms of the deal aren’t being disclosed, but Luma had attracted $22 million from investors, including Relay Ventures, Accel Partners and Andreessen Horowitz, among others.

Axios was first to report the news, having obtained an internal memo authored by Luma chairman and co-founder Paul Judge, who is transitioning out of the company and who characterized the deal as giving Luma “much wider distribution, reach and scale” than it might achieve as a standalone company.

We’re trying to learn whether shareholders will see any…

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