Samsung Acquires SmartThings, A Fast-Growing Home Automation Startup

Samsung is making a big push into being the center of the smart home today with its acquisition of SmartThings, which allows people to sync up their connected gadgets onto a single smartphone app and hardware hub.
The company isn’t releasing the acquisition price, but TechCrunch reported a $200 million pricetag when first caught word of the deal last month.
“From the beginning, our goal has been to make a platform every human being could use—and to make every home a smart home,” said SmartThings cofounder and CEO Alex Hawkinson in phone call today. “This will help us reach a massive scale. We saw an opportunity to bring SmartThing’s vision to hundreds of millions of customers.”
Founded in 2012, SmartThings told me a few months ago it was currently only in “tens of thousands” of homes, but growing at a quick pace of 20% new installations every month.
According to the two companies, SmartThings will operate as an independent company and will be moving from its home base of Washington D.C. over to Samsung’s Open Innovation Center in Palo Alto. The Open Innovation Center acts as an investing arm and startup accelerator for U.S. companies that Samsung is interested in.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Aperion Audio - Award Winning Home Audio for less

Aperion Audio - Award Winning Home Audio for less

Aperion is a group of dedicated audio enthusiasts committed to helping you create the sound experience of your life, at a price that won't break the bank. We make award-winning speakers that look as good as they sound and sell them online so you get unbeatable quality for the price. You always get a 60-day in-home audition with FREE SHIPPING. If you don't like your speakers for any reason, send them back and we'll pay the shipping. Really. You get unlimited free support for your entire system and we back up our products with generous 5-and-10-year warranties. Since we've been around for over fifteen years, you're covered.