Samsung to acquire SmartThings to beef up IoT presence

Samsung Electronics is set to acquire SmartThings, an open platform for the smart home and the consumer Internet of Things (IoT).

SmartThings supports an ecosystem of developers, who are producing new types of connected devices and apps in the cloud. The business will become part of the Samsung Open Innovation Center (OIC) that brings software and services innovation to Samsung Electronics.

Samsung is looking at expanding SmartThings offerings for more partners and devices.

SmartThings founder and CEO Alex Hawkinson will operate the company independently.

As part of the deal, SmartThings will move its headquarters from Washington, DC to Palo Alto, California. Deal size was not announced.

Founded in 2012, SmartThings enables people to monitor, control, and automate their homes from wherever they are through a single mobile app. SmartThings’ open platform supports more than 1,000 devices and 8,000 apps created by its community of device makers, inventors, and developers.

David Eun, head of the OIC, 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.”

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