LG Electronics has introduced the acquisition of an 80% stake in Athom, a Dutch firm famend for its sensible residence platform, Homey. LG plans to amass the remaining 20% over the subsequent three years. This transfer goals to reinforce LG’s ThinQ sensible residence platform, positioning it to raised compete with Samsung’s SmartThings, a number one participant within the sensible residence market.
Homey, established in 2014, helps over 50,000 sensible residence gadgets from numerous manufacturers resembling Aqara, Honeywell, IKEA, Netatmo, Philips Hue, Samsung, and Sonos; It’s suitable with Amazon Alexa and Google Assistant. Homey Professional, a central hub, helps a number of connectivity requirements together with Bluetooth, Wi-Fi, Zigbee, Z-Wave Plus, Infrared, Matter, and Thread.
Homey is favored by customers in search of privateness and intensive customization choices by way of options like Superior Circulation and HomeyScript.
Following the acquisition, LG plans to combine Homey’s capabilities into its ThinQ sensible residence home equipment and app — Current Homey customers will quickly be capable to handle LG ThinQ-compatible gadgets by way of the Homey app. Regardless of the acquisition, Athom will keep its impartial operations, branding, and group, with its founders persevering with as executives to uphold their imaginative and prescient for an improved sensible residence expertise.
Whereas the precise monetary particulars of the deal weren’t disclosed, the Korea Financial Each day estimates the acquisition at round KRW 85 billion (roughly $61 million). This strategic acquisition mirrors Samsung’s 2014 buy of SmartThings for $200 million, which has since been built-in into Samsung’s product lineup, together with fridges, soundbars, and TVs.
This acquisition represents LG’s dedication to increasing its sensible residence ecosystem and providing enhanced compatibility with third-party gadgets. The mixing of Homey is predicted to bolster ThinQ’s competitiveness in opposition to established platforms like SmartThings, offering customers with a extra complete and customizable sensible residence expertise.
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