Daikin takes stake in web technology firm

Daikin Applied Americas has acquired a minority stake in Riptide IO, a California-based software company dealing in smart buildings. Terms of the deal have not been disclosed, but Riptide IO has been a strategic partner to Daikin Applied in the development of Daikin Intelligent Equipment, which it claims is the industry’s first, true cloud-based technology platform for HVAC equipment that harnesses the IoT.