LG Electronics has announced the acquisition of an 80% stake in Athom, a Dutch firm famend for its good residence platform, Homey. LG plans to accumulate the remaining 20% over the subsequent three years. This transfer goals to boost LG’s ThinQ good residence platform, positioning it to raised compete with Samsung’s SmartThings, a number one participant within the good residence market.
Homey, established in 2014, helps over 50,000 good 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 searching for privateness and intensive customization choices by options like Superior Stream and HomeyScript.
Following the acquisition, LG plans to combine Homey’s capabilities into its ThinQ good residence home equipment and app — Present 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 crew, with its founders persevering with as executives to uphold their imaginative and prescient for an improved good residence expertise.
Whereas the precise monetary particulars of the deal weren’t disclosed, the Korea Financial Day by 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 good residence ecosystem and providing enhanced compatibility with third-party gadgets. The combination of Homey is anticipated to bolster ThinQ’s competitiveness towards established platforms like SmartThings, offering customers with a extra complete and customizable good residence expertise.
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