Somnigroup International Acquires Equity Interest in Fullpower-AI and Advances Long Term Strategic Partnership
Rhea-AI Summary
Somnigroup International (NYSE:SGI) has strengthened its partnership with Fullpower-AI through a strategic equity investment and extended collaboration. The company is investing $25 million to acquire a 15.6% stake in Fullpower-AI, a biosensing AI solutions provider.
The partnership extension through 2036 grants Tempur Sealy, Somnigroup's wholly-owned business, exclusive rights to embed Fullpower's Sleeptracker-AI technology in its products. This technology has already powered TEMPUR-Ergo Smart Base collection for over 250 million nights of sleep since 2019, providing valuable consumer sleep data and insights.
Positive
- Strategic acquisition of 15.6% stake in Fullpower-AI for $25 million
- Exclusive rights secured for Sleeptracker technology through 2036
- Access to valuable sleep data insights for product development
- Strengthens existing successful partnership with over 250 million nights tracked
Negative
- Significant capital investment required ($25 million)
News Market Reaction – SGI
On the day this news was published, SGI gained 0.43%, reflecting a mild positive market reaction. This price movement added approximately $66M to the company's valuation, bringing the market cap to $15.43B at that time. Trading volume was elevated at 2.4x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
In addition, Tempur Sealy and Fullpower have signed a multi-year extension through 2036 of Tempur Sealy's exclusive rights to embed Sleeptracker technology in its products. This agreement secures continued access to one of the industry's most advanced AI sleep platforms, ensuring continued sleep insights and coaching for consumers globally. Further, the sleep data aggregated by Sleeptracker enables Tempur Sealy to deepen its understanding of consumer behaviors and deliver even more targeted product solutions.
Somnigroup Chairman and CEO Scott Thompson commented, "This strategic investment reflects our deep commitment to furthering innovation and enhancing the future of the consumer experience. By extending our relationship with Fullpower, we are both furthering our ability to serve consumers through smarter, more tailored solutions and reinforcing our position at the forefront of bedding innovation."
About Somnigroup
Somnigroup (NYSE: SGI) is the world's largest bedding company, dedicated to improving people's lives through better sleep. With superior capabilities in design, manufacturing, distribution and retail, we deliver breakthrough sleep solutions and serve the evolving needs of consumers in more than 100 countries worldwide through our fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. Our portfolio includes the most highly recognized brands in the industry, including Tempur-Pedic®, Sealy®, Stearns & Foster®, and Sleepy's®, and our global omni-channel platform enables us to meet consumers wherever they shop, offering a personal connection and innovation to provide a unique retail experience and tailored solutions.
About Fullpower
Fullpower-AI® delivers the no-code and API KOA platform, an enterprise-grade LAM (Large Action Model) biosensing solution engineered to scale specialized conversational and generative AI for the health, wellness, senior living, and sleep science sectors. Purpose-built for providers, KOA is a no-code and API configuration built for providers to deploy autonomous AI agents with real-time reasoning, adaptive learning, and actionable intelligence across all communication channels. These human-like agents enable fast, personalized, and context-aware interactions while seamlessly aggregating and analyzing data from all major wearables and contactless sensors. By managing routine tasks and queries, KOA empowers care teams to focus on complex needs and meaningful resident engagement. Stanford Medicine and UCSF independently vet our platform. Additional information regarding Fullpower can be found on their website www.fullpower.com.
Somnigroup Investor Relations Contact
Aubrey Moore
Investor Relations
Somnigroup International Inc.
800-805-3635
Investor.relations@somnigroup.com
View original content:https://www.prnewswire.com/news-releases/somnigroup-international-acquires-equity-interest-in-fullpower-ai-and-advances-long-term-strategic-partnership-302523637.html
SOURCE Somnigroup International
FAQ
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