Samsung to Purchase SmartThings

Samsung announced the purchase of SmartThings. The announcement was made by the famous tech company on Friday, when Samsung revealed that they had entered into an agreement to acquire this leading open platform for the smart home and the consumer Internet of Things. 

Samsung has definitely became interested in SmartThings, as it supports an open and growing ecosystem of developers. Samsung may become able to expand its business with this new purchase, focusing more on software and services innovation. However, the company paid no less than $200 million to be able to make this new buy. 

SmartThings has become famous for making smart home controllers. The company has 55 employees in its headquarters, which are currently located in Washington DC. SmartThings published a statement that revealed that this deal with Samsung will actually help the company attract more makers and developers. Samsung, on the other hand, might have made this purchase in an attempt to help its users better manage all their connected devices.

No other details have been released at this point regarding this deal. However, the deal has not been a complete surprise. Since last month reports surfaced on a possible deal between Samsung and SmartThings. It has been revealed that SmartThings will continue to function as an independent entity. The only thing that will change is that the team will move to a new office in Palo Alto, California. 

The founder and CEO of SmartThings will still run the company. However, Alex Hawkinson will also become part of the Samsung Open Innovation Center. Alex founded this amazing project back in 2012, giving people power to monitor and control their homes with the use of a single mobile app. 

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

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