Anova Culinary announced on Sunday that it had finalized a $250 million dollar deal to be acquired by Electrolux, one of the world’s biggest appliance manufacturers. As part of the deal, Anova will keep its own branding and remain under the leadership of current CEO and co-founder Stephen Svajian as a division within Electrolux.

Anova is one of the biggest names in town when it comes to sous vide cooking, a trendy method of preparing food by placing it inside vacuum-sealed bags and slowly cooking it in a temperature-controlled water bath. Anova originally launched the first version of its water circulator back in 2013, as one of the first immersion circulators on the market for sous vide cooking that was available at a consumer-friendly price point. But the company didn’t really take off until the second-generation model, which was funded with over $1.8 million dollars raised through Kickstarter. Today’s acquisition marks a major win for the small company, whose journey from crowdfunded product to multi-million dollar corporate prize brings to mind a similar transition for VR manufacturer Oculus.

Anova recently launched a Wi-Fi- and Bluetooth-equipped version of its second-generation cooker last year, and is gearing up for the release of its next major project, the Anova Precision Oven — a countertop device meant to work in tandem with the Precision Cooker with a similar goal of allowing easy and precise temperature control for cooking — later this year.