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Samsung agrees to buy SmartThings

Posted: 15 Aug 2014 ?? ?Print Version ?Bookmark and Share

Keywords:IoT? OIC? smart home? SmartThings?

Samsung has entered into an agreement to buy SmartThings, an open platform for the smart home and the consumer Internet of Things (IoT). Although terms have not been disclosed yet, Re/code sources say that the South Korean company paid $200 million.

SmartThings supports an open and growing ecosystem of developers, who are producing new types of connected devices and unique apps in the cloud that change how everyday objects work. With Samsung's resources and support, the company will be able to expand its platform and become available for even more partners and devices.

The company will continue to operate independently under founder and CEO Alex Hawkinson, and will become part of the Samsung Open Innovation Center (OIC), which is responsible for bringing software and services innovation to Samsung Electronics. SmartThings will move its headquarters from Washington, DC, to Palo Alto, California.

Founded in 2012, SmartThings gives people power to monitor, control, and automate their homes from wherever they are through a single mobile app. SmartThings' open platform supports more than 1,000 devices and 8,000 apps created by its community of device makers, inventors, and developers.

"SmartThings has created a remarkable universe of partners and developers and now has the most engagement of any smart home platform in the world," said David Eun, Head of the OIC. "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. We are committed to maintaining SmartThings' open platform, fostering more explosive growth, and becoming its newest strategic partner."

Hawkinson said that with Samsung's support, the company would be able to attract more device makers and developers to unlock the possibilities of the consumer IoT. "We are thrilled to become part of the Samsung family and continue our goal in making every home a smart home," he said.

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