Samsung has bought distinguished connected-device startup SmartThings.
The South Korean giant announced a news currently though didn’t divulge terms. Re/code, citing unknown sources, pegged a deal during around $200 million. Today’s understanding could have large implications in a flourishing Internet of things world, during slightest judging by a settled skeleton in a press recover on a deal:
With Samsung’s resources and support, SmartThings will be means to enhance a height and turn accessible for even some-more partners and devices
SmartThings sells hardware that serves as a heart for connected devices, with a smartphone app compared with a hardware. The heart works with inclination that use Zigbee and Z-Wave communication protocols.
The deal isn’t a finish surprise. Reports of a probable understanding flush final month.
SmartThings will duty as an eccentric entity, according to a blog post currently from arch executive Alex Hawkinson. The group will pierce from a stream home in Washington, D.C., to a new bureau in Palo Alto, Calif., he wrote.
SmartThings announced a $12.5 million appropriation turn in November. Investors embody A-Grade, CrunchFund, First Round Capital, Greylock Partners, Highland Capital, Lerer Ventures, Max Levchin, Start Fund by Yuri Milner, SV Angel, and David Tisch.
SmartThings originated in 2012 as a tremendously successful debate on Kickstarter, lifting some-more than $1.2 million notwithstanding a $250,000 goal.
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Article source: http://venturebeat.com/2014/08/14/samsung-buys-smartthings/