Samsung acquired smart home company SmartThings for $200 million

Samsung event

Catching up a month after a beginning gossip foreseeing the tie-up, SmartThings has been obtained by Samsung for a amount of $200 million. SmartThings, a startup that makes little controllers that lets clients make their own “smart home” one piece at once, reported on its blog today that it will be joining Samsung yet keep on running as a free company inside Samsung’s “Open Innovation Center” group.

While SmartThings itself didn’t uncover terms, Recode reports that awhile ago reputed cost of $200 million is for sure the last estimation of the company. SmartThings will migrate to new work places in Palo Alto, CA, with the other Open Innovation Center companies. “SmartThings will continue as SmartThings,” the company web blog tells and if that remaining parts genuine this appears to be a win-win for both gatherings.

SmartThings, Recode

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