Samsung may buy smart home company ‘SmartThings’

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Samsung may buy smart home company 'SmartThings'Most consumer electronics companies are turning their attention towards smart home products and the Internet of Things. Many of the new and impressive entries into the smart home market are coming from small startups which has resulted in many acquisition talks and multi-million dollar deals. The latest deal could be between Samsung and SmartThings. TechCrunch reports that Samsung could buy the smart home company for $200 million, but the tech giant has not publicly confirmed or hinted at any acquisition.

SmartThings offers a way for people to control all of their various smart home devices through one mobile application. If Samsung were to use the SmartThings technology to create its own application for Galaxy devices, the company would have a better way to compete against Apple in the smart home market.

Though SmartThings is still a small startup company, it has the potential to become much larger as the market grows, and million-dollar investments into the company have shown its growth potential.

Since Apple announced its smart home platform, Homekit, during WWDC in June, many tech companies have revealed plans for other smart home applications. This acquisition may not actually take place, but Samsung would be wise to work on a competitor to Homekit.

Via [The Next Web]

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