August 14, 2014 06:15 PM Eastern Daylight Time
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Samsung Electronics Co., Ltd. today announced that it hasentered into an agreement to acquire SmartThings, the leading open platform for the smart home and theconsumer Internet of Things. SmartThings supports an open and growing ecosystem of developers, who areproducing new types of connected devices and unique apps in the cloud that change how everyday objectswork. With Samsung’s resources and support, SmartThings will be able to expand its platform and becomeavailable for even more partners and devices.
“As an open, standards-agnostic platform forthe Internet of Things, our vision has alwaysbeen to innovate, build, and make the worldsmarter, together”
The company will continue to operate independently under founder and CEO Alex Hawkinson, and will becomepart of the Samsung Open Innovation Center (OIC), which is responsible for bringing software and servicesinnovation to Samsung Electronics. SmartThings will move its headquarters from Washington, DC to Palo Alto,California.Founded in 2012, SmartThings gives people power to monitor, control, and automate their homes fromwherever they are through a single mobile app. SmartThings’ open platform supports more than 1,000 devicesand 8,000 apps created by its community of device makers, inventors, and developers.“SmartThings has created a remarkable universe of partners and developers and now has the mostengagement of any smart home platform in the world,” said David Eun, Head of the OIC. “Connected deviceshave long been strategically important to Samsung and, like Alex and his team, we want to improve theconvenience and services in people’s lives by giving their devices and appliances a voice so they can interactmore easily with them. We are committed to maintaining SmartThings’ open platform, fostering more explosivegrowth, and becoming its newest strategic partner.”“As an open, standards-agnostic platform for the Internet of Things, our vision has always been to innovate,build, and make the world smarter, together,” said Alex Hawkinson. “With Samsung behind us, we will be ableto attract more device makers and developers to unlock the limitless possibilities of the consumer Internet of Things. We are thrilled to become part of the Samsung family and continue our goal in making every home asmart home.”
Samsung to Acquire SmartThings, Leading Open Platform for theInternet of Things