Samsung reportedly to buy home automation company SmartThings for $200 million

The SmartThings family of devices
By Derek Kessler on 15 Jul 2014 10:53 pm
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Korean electronics conglomerate Samsung is reported to be in talks to by home automation company SmartThings. The deal is said to be around $200 million, though it isn't yet a done deal. Samsung buying up SmartThings follows Google's $3.2 billion acquisition of Nest back in January and Apple's introduction of HomeKit at WWDC 2014 just last month. Buying up SmartThings would give Samsung a big leg up in the home automation space (their smart appliances haven't exactly taken off as they would have hoped), and for a fraction of the cost of Nest.

SmartThings is all about home automation, with apps for Android and iOS that allow the user to control a wide range of devices. Working with off a central hub, SmartThings hooks up to sensors that can read movement, temperature, moisture, external motion, and presence, as well as being able to tie into a wider range of connected accessories, including smart outlets and light switches, cameras, door locks, and more.

Google's Nest, meanwhile, has just a thermostat and a smoke detector. Apple's HomeKit is likely to see wider adoption, but as of right now there aren't any devices that can make use of the software. Connected accessories and the connected home are expected to be huge in the coming years, so buying little-known-but-well-connected SmartThings could be just what Samsung needs to bolster a smartphone business that's not performing as well as expected.

What do you think, is buying SmartThings a smart thing for Samsung to do?

Source: TechCrunch

Reader comments

Samsung reportedly to buy home automation company SmartThings for $200 million

3 Comments

Seems like a good fit to get in the game. Interested in seeing what comes out of Nest next. Seems like Google needs to get another product out of them to maintain what they paid $3b for.

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I think this would be the right time to buy them before the boom in this industry really takes off. I have been interested in this product for months now and will soon be starting to get some items for my home. Having Samsung behind it to give it proper marketing support will also bring more developers to adapt their products to the system. More products = more possibilities = more interest = more sales. Simple.