Samsung Electronics has acquired SmartThings, a US-based firm that enables a variety of home appliances to be connected to the Internet, Financial Times reported.
The acquisition of the three-year-old start-up, said to be for US$200m, comes as Samsung turns its focus to “smart home” business, the report noted.
Following the deal, SmartThings will move its headquarters to Silicon Valley and be a part of Samsung’s Open Innovation Centre. The company currently has its main offices in Washington DC.
Samsung and SmartThings touted their “open platform for the smart home”, which now supports more than 1,000 products and thousands of mobile apps, the report said.
David Eun, head of Samsung’s Open Innovation Centre, was quoted as saying that the group plans more investments, acquisitions and partnerships around the “internet of things”.
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