M2MEnterprise IoT

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Author: William Ablondi
Publication Date: Aug 27 2014
Pages: 5
 Report Type: Insight, Word

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IoT

Samsung Buys SmartThings Why



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Report Summary:

On August 14th the long discussed rumor became reality when it was announced that Samsung had acquired SmartThings for about $200 million. The Samsung unit responsible for the acquisition is its Open Innovation Center (OIC), a start-up accelerator, which recently opened offices in Palo Alto, CA. SmartThings, which employs about 55 people primarily in Washington, DC, will move its headquarters to Palo Alto. Alex Hawkinson, the current CEO, will retain the post and operate the SmartThings as an independent company. Interestingly, the acquisition takes place only a few months after Samsung Electronics announced it was rolling out the Samsung Smart Home service (which was announced at the 2014 CES) in Korea and the US with its own proprietary control protocol Smart Home Protocol (SHP). Hence the question: Why did Samsung buy SmartThings?

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