Samsung Moving into Smart Home Sector With $200 Million Bid of SmartThings

evolveteam July 16, 2014 0
Samsung SmartThings

The ‘Internet of Things’ is almost upon us. But is Samsung ready? The electronics giant is reportedly racing Google for second place on the smart home platform. “Samsung most likely bought the startup, SmartThings, to get out ahead of Google’s Nest efforts,” writes Alexia Tsotsis of TechCrunch.

All this buzz of activity comes at the heels of an official confirmation by Apple of its HomeKit platform given in its Worldwide Developer’s Conference keynote last month. Following suit, Google recently invested in a smart thermostat, dual carbon monoxide and smoke alarm through its Nest procurement. All this heavy competition has forced Samsung into playing catch-up.

Sammy is presently negotiating an acquisition deal with SmartThings, according to Tsotsis. However, previous claims indicate a hurried deal has already been inked for $200 million. Will Samsung be fast enough for second place against its competitor?

Related: Samsung Challenging iPhone 6 With New Galaxy Alpha Smartphone
Related: Will the Samsung Galaxy Note 4 Feature A Eye Retina Scanner?