Samsung Acquires SmartThings

Smartthings

Samsung Acquires SmartThings

Smart Things is a home monitor and security app. It can even turn on the lights for you. It can even help you find your keys. Now, SmartThings has found itself a part of the Samusung family.

Nobody is certain how much Samsung paid to get SmartThings, but the number $200,000,000 has been thrown around. It’s headquarters, scattered around the U.S., will be moved to Samsung’s Open Innovative Center in California’s Silicon Valley. This innovation center is dedicated to software and app innovation. Samsung isn’t the only mega technology company investing in technology innovation. Facebook bought virtual reality headset company Ocalus VR for $2 billion. I wonder if competition is driving Samsung to make this acquisition. In January 2014, Google bought Nest Labs for over 3.2 billion dollars. Nest Labs is also a home monitor and control app. But the reports and quotes I’m reading suggest this is more for studying innovation than anything else.

They chose an opportune time to acquire SmartThings. One can purchase a SmartThings kit for around two hundred dollars. Sales have been growing and so have subscriptions on apps. I admit, that’s a great business move. But I find it amazing Samsung is growing far beyond just making great phones. Now they’re expanding to things like home security. I’m glad they’re letting SmartThings be themselves, for the most part. So far, the most radical change has been SmartThings headquarters moving to Samsung’s innovation center. Nobody has been laid off. Let’s keep it that way. I’m not much of a company merger fan, but if it must happen, this is a proper way to do it. Will this be a merger made in Heaven or Hades?

 

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