A new crop of connected “smart-home” products is attracting a growing swath of strategic acquirers. Unlike the smartphone industry, which quickly became a playing field for big-name buyers such as Verizon Communications (NYSE: VZ) and Microsoft Corp. (Nasdaq: MSFT), the middle market is home to many of these fresh deals, including Nest Labs’ recent $555 million purchase of Dropcam.

More deals are expected to follow.

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