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Samsung acquires smart home developer SmartThings

2014-08-15 08:55:00| Telecompaper Headlines

(Telecompaper) Samsung has acquired the maker of smart home gadgets SmartThings. The California-based company will continue to operate independently, from within Samsung's Open Innovation Center group. SmartThings, which started out with funding from Kickstarter, said joining Samsung will give it the scale to expand its base of developers and enhance its products for wider distribution. SmartThings' main product is a home hub that connects to sensors placed around the house to control locks, light switches, outlets, thermostats, and other compatible devices. The devices can be monitored and controlled over an app on a smartphone. While no financial details of the takeover were disclosed, TechCrunch reports that SmartThings sold for around USD 200 million. 

Tags: home samsung smart developer

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