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Samsung Electronics Co Ltd to acquire SmartThings, open platform for internet of things


Thursday, 14 Aug 2014 06:15pm EDT 

Samsung Electronics Co Ltd:Enters into agreement to acquire SmartThings, the open platform for the smart home and consumer Internet of Things.SmartThings supports 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 platform and become available for even more partners and devices.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 headquarters from Washington, DC to Palo Alto, California. 

Company Quote

1287000.0
23000.0 +1.82%
28 Nov 2014