Samsung Acquires Home Automation Company SmartThings for $200 Million

SmartThings

Samsung has bought SmartThings, the startup that makes smart-home controllers. While the companies did not disclose the price, sources said the South Korean consumer electronics giant paid about $200 million. SmartThings will continue to be run by CEO and founder Alex Hawkinson and operate independently, Samsung said. But most of its operations — which now include 55 employees in Washington, D.C., and also offices in San Francisco and Minnesota — will be moved to Palo Alto, Calif., to become part of Samsung’s Open Innovation Center (OIC) there. That unit, which is run by former Google and AOL exec David Eun, is focused on software and services innovation. As an example, the accelerator recently helped launch an app called Terrain, which “offers users a list of cards that provide shortcuts to information, content, social network feeds, frequently accessed information and settings on the device.”

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