Samsung Buys SmartThings for a Reported $200 Million

In another signal that consumers' homes are the new battleground for tech colossuses, Samsung announced on Thursday that it was buying Internet of Things startup SmartThings for a reported $200 million.

Re/code reported the figure, which was attributed to anonymous sources. SmartThings CEO Alex Hawkinson confirmed the acquisition in a blog post, but didn't describe any financial terms. SmartThings will now operate as an independent company within Samsung’s Open Innovation Center group, Hawkinson said

See also: The Internet of Things: Everything You Need to Know In 2 Minutes

The company's team will move to Palo Alto, California, but will still be called SmartThings, he added. It is currently based in Washington, D.C. Read more...

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