LG Electronics has announced the acquisition of an 80% stake in Athom, a Dutch firm famend for its sensible dwelling platform, Homey. LG plans to amass the remaining 20% over the subsequent three years. This transfer goals to reinforce LG’s ThinQ sensible dwelling platform, positioning it to higher compete with Samsung’s SmartThings, a number one participant within the sensible dwelling market.
Homey, established in 2014, helps over 50,000 sensible dwelling gadgets from numerous manufacturers reminiscent of Aqara, Honeywell, IKEA, Netatmo, Philips Hue, Samsung, and Sonos; It’s appropriate 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 in depth customization choices by options like Superior Circulation and HomeyScript.
Following the acquisition, LG plans to combine Homey’s capabilities into its ThinQ sensible dwelling home equipment and app — Current Homey customers will quickly have the ability to handle LG ThinQ-compatible gadgets by the Homey app. Regardless of the acquisition, Athom will keep its impartial operations, branding, and workforce, with its founders persevering with as executives to uphold their imaginative and prescient for an improved sensible dwelling 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 dwelling ecosystem and providing enhanced compatibility with third-party gadgets. The mixing of Homey is predicted to bolster ThinQ’s competitiveness towards established platforms like SmartThings, offering customers with a extra complete and customizable sensible dwelling expertise.
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