August 15, 2014 7:02am
SmartThings, an Internet of Things company, has just been acquired by Samsung.
The deal was rumoured back in July and Alex Hawkinson, CEO and Founder, stated, “I’m excited to announce that SmartThings has been acquired by Samsung and will operate as an independent company within Samsung’s Open Innovation Center group….It has always been our goal to create a totally open smart home platform that brings together third-party developers, device makers, and consumers. We’re thrilled that Samsung fully supports this vision.”
SmartThings started its quest for a connected home on Kickstarter back in September of 2012. To date, the company has raised over $15.5 million, but Samsung reportedly spent $200 million in the acquisition.
SmartThings offers a number of IoT-based products that allow users to control and protect their homes with a smartphone: sensors to alert you when there is movement in the home’ turning on and off the lights; and energy-monitoring solutions.
“We believe that there is an enormous opportunity to leverage Samsung’s global scale to help us realize our long-term vision. While we will remain operationally independent, joining forces with Samsung will enable us to support all of the leading smartphone vendors, devices, and applications; expand our base of developers and enhance the tools and programs that they rely on; and help many more people around the world easily control and monitor their homes using SmartThings, “said Hawkinson.
Apple recently unveiled its plans for the connected home with HomeKit, while Google recently purchased Nest, which manufactures the Learning Thermostat and Protect Smoke Detector, for $3 billion.