Samsung has just bought startup SmartThings for US$200 million
Samsung has just announced that it has acquired startup company SmartThings. Although Samsung did not disclose how much it cost them, reports suggest that the deal cost Samsung around US$200 million.
The deal is seen as a move to bolster Samsung's Internet of Things offerings. SmartThings makes a whole range of smart home appliances including light switches, water sensors, door locks and more, all of which can be controlled via apps. The company also has a US$99 hub that lets home automation products communicate across differing network of standards. Such technology would likely trickle down or be adopted by Samsung's own home appliances.
SmartThings maintains that nothing much will change and that it will be business as usual for them. They will operate independently and the SmartThings brand will be kept, but the company will be packing up and moving to Samsung's Palo Alto offices.