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Samsung Acquires SmartThings, Deal Reportedly Worth $200 Million

SmartThings

Yesterday afternoon, it was announced that Samsung was set to acquire SmartThings, a company specializing in home automation, for an estimated $200 million. SmartThings has had a short journey on its way to acquisition, having raised over a million dollars on Kickstarter, then receiving an additional $12.5 million in Series A funding late last year.

As for Samsung’s plans, it seems rather clear, as Google went ahead and snatched up Nest, and Apple launched HomeKit. Samsung does not plan on being left behind in this space, as SmartThings is now packing up its office and heading on over to Samsung’s main California office in Palo Alto.  

So, what can we expect to see from Samsung down the road thanks to this purchase? For starters, SmartThings specializes in smart water sensors, door locks, light switches, and much more. In the future, these products could come with a Samsung logo on them, but for now, SmartThings will operate independently from the tech giant.

The next five years are looking pretty intense in the home automation space.

Via: Samsung Tomorrow | TechCrunch
  • Finire

    If they keep this essentially a separate company, it will be successful. But with Samsung’s history, you’ll have to have a Samsung phone, Samsung Home, Samsung fingerprints, and Samsung Oxygen pumped into your house before everything will work as a cohesive unit.

  • mgamerz

    Will I be able to change the temperature WITH MY EYES?

  • Gfunk81

    I’m a huge home automation fan. I use the Vera3 wish is one of the original z-wave hubs and is sold my micasaverde, who has just rebranded under the Vera title. In my opinion, they’re the best option or there right now. They have a huge community of users and the hub doesn’t rely on the internet to work like ST. However, Vera has really got a wall with their ability to keep the system current. Now they’re trying to play catch up with all the competition coming onto the scene… Just released a new UI and will be adding ZigBee support and geofencing. I’m glad Smartthings has come along and really put the pressure on for competitors to innovate and update. I’m glad Google is getting in on the action too. I just installed a couple Dropcams and will be installing a Nest thermostat soon.

    • Raven

      I am seriously considering getting back into it. I had a ton of X-10 stuff, but my brain box finally died a while ago. I have been considering the Revolv and the VeraLite, but I haven’t decide to pull the trigger on either yet. Any more thoughts or advice?

      I wish Google would just build or buy a platform that supports light controllers and make the decision for me.

      • GrantVanMeter

        I don’t think there is a system as mature as Vera, so I would currently recommend the Vera3. However, it’s such an emerging market with so many trying to find their way into this sector. I bought in a little over a year ago after we bought our new house because I wanted to be able to control our door locks remotely and know when our home was being accessed and allow others to enter when we were on vacation to water flowers or to clean the house while we were away at work. I also wanted a way to shut off all the lights in our finished basement (closet light, storage room light, bedroom light, lampstand, etc.) from the switch at the top of the stairs because I would come home from work every day and our kids would have every light in the basement on and you would have to go downstairs to each switch and turn them off manually and my wife has chronic back pain and was unable to travel the stairs multiple times/day. Z-wave switches made it possible to shut them off from the one switch at the top of the stairs and these are all available at Lowes. My Vera3 made it possible. It seems like all the other systems (Lowe’s IRIS, Home Depot’s Quirky/Wink, Smartthings, etc.) all have poor customer reviews or other issues that limit them in some fashion (like a lack of customization with scenes) compared to Vera . Vera has its own issues as well and I’ll admit that it isn’t perfect, but at the present moment, I do think it’s one of the best options available.

  • mswansonxi

    Oi. I was just about to invest in this, too. Well, looks like I’ll wait a little longer before I put all my eggs in a HA basket.

    • FF

      Do it. I have one and I like it better than revolv or connect. Plus even if Samsungs f’s it up, you still should be able to use on the accessories on any other system with the same radios (e.g. z-wave). When I moved from connect, I was only out the $100 hub cost. Now if Apple comes out with something using a proprietary communication tech then you may be out of luck.

      The Smartthings isn’t perfect but I like it the best (a little harder to program, but much more stable).

  • Cory S

    I was a kickstarter backer. I love the platform, it really did to HA what the first iPhone did to smartphones IMO (minus the huge popularity). Really sad to see them get bought out by big corporate. I think there will be so big conflicts of interest on which products they support coming up.

    • Sean Lally

      Slightly off topic, but like @NickA55:disqus below I’m also interested in this area. Did you look at other products before backing SmartThings?

      • Cory S

        At the time there wasn’t really anything close to ST in terms of openness, and ease of use. There are a few options out there now, but I still feel ST is the way to go. If they don’t have a recipe built in to do something then a user of the community has coded one you can use.

        It has its faults though. It’s cloud hosted nature has caused more than a few outages, or lag spikes. I hope that is something they can improve on with Samsung backing.

        • Sean Lally

          Thanks!

    • Jorge Soros

      “I was a kickstarter backer”

      How much equity did you receive? What is your cut of the $200MM? Oh, you just pre-ordered a product (i.e. you gave them money upfront for something down the road). Congrats, Mr. High Roller!

      • Cory S

        Kind of reaching hard to troll there. It was obvious I wasn’t trying to claim any type of entitlement by backing a kickstarter. I was simply mentioning how I had been a customer from the beginning and went with them because I liked the companies vision and this buyout could change that.

  • NickA

    Check out their website, they feature the HTC One showing their Android app. Bet that will be the first thing to change. Looks like a cool product, and decent reviews on Amazon. I’m looking for a solution like this, but waiting to see what Apple has to offer, and well as something from Google in the way of home automation.