Samsung acquires SmartThings for $200 million

Samsung Electronics has announced the acquisition of SmartThings, a two year old start-up which connects your home and mobile device through an app.

smarthings

SmarThings started as a KickStarter project back in 2012 and backers gave the company more than $1.2 million. SmartThings later went on to receive additional funding investors who now see a nice return on their investment.

It seems that the “smart home” market is something the big companies see as the next big thing. Google paid $3.2 billion for Nest Labs in January this year and later went on to acquire Dropcam for $555 million.

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