Apple and Google have been into the game to establish a firm foothold in the home automation segment and now Samsung has also jumped into the fray. In a bid to step into the Internet of things segment, the South Korean electronics giant has acquired mobile apps maker, SmartThings which makes apps to remotely control in house devices.
Samsung which is the largest smartphone manufacturing company also has diversified interests in a large number of sectors and is now trying to make a presence in the trending Internet of Things (IoT) sector. On Thursday SmartThings announced that it has been acquired by Korean Multinational Samsung.
SmartThings makes smartphone-connected devices for use in home which enables the device to be controlled remotely. Nest and Insteon are big names in the industry and SmartThings competes with these big names to get a place in the smart home category. With the Samsung name tagged along with it, SmartThings will find the going a little easier.
The smart home device market is rapidly growing and Samsung is trying to get a piece from the booming market. Earlier this year Google had acquired Nest Labs for a whopping $2.2 billion. The financial details of the deal have not been revealed though rumors say that it was around $200 million.
The deal requires SmartThings to relocate to Palo Alto, California. However the CEO of SmartThings – Alex Hawkinson – emphasized on the fact that the startup’s operations will remain intact.
Hawkinson wrote in the company’s blog, “We believe that there is an enormous opportunity to leverage Samsung’s global scale to help us realize our long-term vision. While we will remain operationally independent, joining forces with Samsung will enable us to support all of the leading smartphone vendors, devices, and applications; expand our base of developers and enhance the tools and programs that they rely on; and help many more people around the world easily control and monitor their homes using SmartThings.”
Apple and Microsoft, the other big names in business has not been far behind. Apple acquired HomeKit in June while Microsoft has partnered with Insteon. It needs to be seen which company makes its mark in this fast growing segment.