SmartThings the company that launched their home automation products successful over on the Kickstarter crowd funding website back in 2012 is reportedly being purchased by Samsung for around $200 million.
During its Kickstarter campaign SmartThings raised an impressive $1.2 million to help its home automation hub and companion application come to market.
Today Tech Crunch is reporting that Samsung is in negotiations with the SmartThings company, but at the current time a final price has not yet been agreed upon according to one source, while another says the deal has already been concluded.
Since its inception SmartThings has received over $15 million in funding from investors such as Greylock, Highland Capital, First Round Capital, SV Angel, Lerer Ventures, Yuri Milner’s Start Fund, David Tisch and A-Grade Investments to name a few.
The new deal will help Samsung stay close to its competitors in the home automation market such as Google who have recently purchased Nest for $3.2 billion and Apple who recently unveiled their new home automation service Homekit during this years Apple WWDC conference last month.
As explained the deal between Samsung and SmartThings has not been confirmed officially by either party at the current time and estimates of the sale price vary considerably at the moment. But as soon as more official information becomes available we will keep you updated as always. If you are thinking of setting up a home automation system you might be interested in our Home Automation Hubs and Systems Guide.
Source: Tech Crunch
Filed Under: Technology News, Top News