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September 20, 2017

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Samsung to buy US tech firm SmartThings

SEOUL--Samsung said Friday it had reached a deal to buy a U.S. home automation startup SmartThings, as the South Korean electronics giant aims to expand beyond the increasingly saturated smartphone market.

The world's top smartphone maker said it had entered into a deal to buy the U.S. app maker, which allows people to monitor and control their home appliances via mobile devices.

"With Samsung's resources and support, SmartThings will be able to expand its platform and become available for even more partners and devices," Samsung said in a statement.

It gave no details of the value of the deal.

SmartThings will continue to operate independently under its founder and CEO Alex Hawkinson and will become part of Samsung's Open Innovation Center, the statement said.

The center is responsible for developing Samsung's new software and services.

"We are committed to maintaining SmartThings' open platform, fostering more explosive growth, and becoming its newest strategic partner," the center's head, David Eun, said in the statement.

SmartThings, founded in 2012, has built an open platform that supports about 1,000 devices.

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