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August 2014 |
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Samsung Buys SmartThings for Reported $200 Million
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Samsung snapped up SmartThings, an open-platform connected home company.
Wireless Week - 08/15/2014 - The companies did not disclose the terms of
the deal but Recode cited sources saying the price tag for SmartThings
came in around $200 million. That total matches up with reports that
surfaced in July about Samsung’s possible bid for the home automation
company.
SmartThings will stay under the leadership of founder and CEO Alex
Hawkinson and will become a part of Samsung’s Open Innovation Center
(OIC). The company, founded in 2012, says it now supports more than
1,000 devices and 8,000 apps. The technology supports standards like
Bluetooth, ZigBee, Z-Wave and Wi-Fi.
“Connected devices have long been strategically important to Samsung
and, like Alex and his team, we want to improve the convenience and
services in people’s lives by giving their devices and appliances a
voice so they can interact more easily with them,” David Eun, Head of
the OIC, said in a statement.
Samsung’s move to gain traction in the connected home space comes in
the wake of other tech giants making similar moves. In January Google
announced it was buying Nest Labs, makers of the Nest thermostat, for
$3.2 billion. When Apple announced iOS 8 it built in HomeKit, an
application that unifies home automation protocols and controls and
adds Siri-supported voice controls.
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