Samsung buys SmartThings in ambitious push to connect your home
- 15 August, 2014 09:53
Samsung has agreed to buy SmartThings, a two-year-old startup that makes software to connect household objects and let them be controlled from afar via smartphone.
The deal, announced Thursday, gives Samsung a solid foothold in the burgeoning "Internet of things" market. IoT generally involves connecting objects such as cameras, sensors and appliances using a wireless Internet connection and controlling them or collecting data.
"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," Samsung said in a press release.
Terms were not disclosed, but a report in Re/code cited a roughly US$200 million price tag. Samsung did not immediately respond to a request for comment.
SmartThings makes a mobile app for controlling a range of devices, as well as a software platform for outside developers and device makers. Samsung has become active in this area with its Tizen mobile operating system, which is designed to let consumers control utilities and appliances with their smartphones and other mobile devices.
The acquisition should broaden Samsung's efforts and let it expand the SmartThings platform to more partners and devices.
SmartThings will operate independently under SmartThings CEO Alex Hawkinson but will move from Washington, D.C., to Samsung's Open Innovation Center in Palo Alto, California, where Samsung works on bringing new types of software applications to its hardware.
"While we will remain operationally independent, joining forces with Samsung will enable us to support all of the leading smartphone vendors, devices, and applications," Hawkinson said in a blog post.
IoT activity has heated up over the past year. In a high-profile move earlier this year, Google announced its acquisition of Nest, the smart thermostat maker, for $3.2 billion.
SmartThings got its start on Kickstarter.