Samsung acquires SmartThings smart home platform

Samsung appears determined to get a seat on the Internet of Things bandwaggon and has confirmed its intention to purchase the US startup SmartThings. Based in Washington DC, SmartThings is responsible for creating an open platform SmartHub that connects to your home Wi-Fi network and currently supports over 1,000 devices and 8,000 apps.

Rumours surrounding the sale had pinned the asking price at around $200 million (£116 million) but Samsung as yet hasn't disclosed the amount. Following the sale, SmartThings will continue to run as an independent entity under the leadership of founder and CEO Alex Hawkinson. However, it will trade its Washington DC HQ in for a Palo Alto location in California where Samsung has a base.

The South Korean company is already stuck into producing smart home devices of its own: Wi-Fi connected fridges and washing machines, anyone? "The acquisition of SmartThings is an exciting development in our journey to help people live better, worry less and be smarter with the resources that are used," said Andy Griffiths, President of Samsung, UK & Ireland.

“We have great plans to enhance more and more parts of the home experience, especially with a view of expanding it to areas with high growth potential such as home safety and energy management."
Hawkinson also noted the advantage of having a company the size of Samsung on board: “With Samsung behind us, we will be able to attract more device makers and developers to unlock the limitless possibilities of the consumer Internet of Things," he said.

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