|[August 14, 2014]
Samsung to Acquire SmartThings, Leading Open Platform for the Internet of Things
MOUNTAIN VIEW, Calif. --(Business Wire)--
Samsung (News - Alert) Electronics Co., Ltd. today announced that it has entered into
an agreement to acquire SmartThings, the leading open platform for the
smart home and the consumer Internet of Things. SmartThings supports an
open and growing ecosystem of developers, who are producing new types of
connected devices and unique apps in the cloud that change how everyday
objects work. With Samsung's resources and support, SmartThings will be
able to expand its platform and become available for even more partners
The company will continue to operate independently under founder and CEO
Alex Hawkinson, and will become part of the Samsung Open Innovation
Center (OIC), which is responsible for bringing software and services
innovation to Samsung Electronics. SmartThings will move its
headquarters from Washington, DC to Palo Alto (News - Alert), California.
Founded in 2012, SmartThings gives people power 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
"SmartThings has created a remarkable universe of partners and
developers and now has the most engagement of any smart home platform in
the world," said David Eun, Head of the OIC. "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. We are committed to maintaining SmartThings' open
platform, fosteing more explosive growth, and becoming its newest
"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 able
to 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 a smart home."
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in technology, opening
new possibilities for people everywhere. Through relentless innovation
and discovery, it is transforming the worlds of TVs, smartphones,
tablets, PCs, cameras, home appliances, printers, LTE (News - Alert) systems, medical
devices, semiconductors, and LED solutions. The company employs 286,000
people across 80 countries with annual sales of US$216.7 billion. To
discover more, please visit www.samsung.com.
About The Samsung Open Innovation Center
The Samsung Open Innovation Center brings software and services
innovation to Samsung Electronics by working with technology startups
and entrepreneurs through investments, acquisitions, partnerships and
the Samsung Accelerator. The OIC's deep integration with Samsung
consumer electronics and mobile business units provide entrepreneurs and
startups with unparalleled access to Samsung resources, decision-makers,
product roadmap, and the world's largest platform for distribution.
Opened in 2013, the OIC operates across offices in Mountain View, Palo
Alto, New York City, and Suwon, South Korea.
About Physical Graph Corporation/SmartThings
Physical Graph Corporation is the company behind SmartThings, the open
platform for the Internet of Things (IoT). SmartThings enables consumers
to easily install connected devices and control them through a single
mobile app that makes their homes smarter, more reactive and more
enjoyable. SmartThings supports an open and growing ecosystem of over
5,000 inventors and developers producing new types of connected devices
and unique apps in the cloud that change how everyday objects work.
SmartThings has raised $15.5M in venture capital to date from Greylock
Partners, Highland Capital Partners (News - Alert), First Round Capital, SV Angel,
Lerer Ventures, Max Levchin, Start Fund by Yuri Milner, A-Grade, David
Tisch, CrunchFund, and others. SmartThings is headquartered in
Washington, D.C. with offices in San Francisco and Minneapolis.
SmartThings products are sold at shop.smartthings.com or Amazon.com (News - Alert). For
more information, visit www.smartthings.com.
[ Back To TMCnet.com's Homepage ]