Samsung Set to Acquire Connected Home Firm SmartThings
- Tuesday, July 15th, 2014
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Samsung is reportedly in talks to acquire connected home company SmartThings.
SmartThings offers a range of smart lights, locks, alarms and more, connected via a hub, and an iOS and Android app which can be used to control and monitor each device remotely.
TechCrunch puts the deal at around $200m (£117m), or possibly less. SmartThings launched with a Kickstarter campaign in 2012 which raised $1.2m, nearly five times the initial goal, and has since raised over $15m from 
Making the obvious comparison, this $200m deal looks like a drop in the ocean next to Googles $3.2bn acquisition of Nest Labs earlier this year. With Apple also making steps into the smart home space with the HomeKit SDK, part of the the forthcoming iOS 8 release, the market looks set to explode over the coming years.
