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The Drum

Samsung buys SmartThings startup for $200m

Samsung has acquired Internet of Things startup SmartThings for $200m.

Announcing the acquisition, Samsung said that CEO and founder Alex Hawkinson will continue to run the operation, with SmartThings to remain independent.

However, the employees will be moved to Palo Alto in California to become part of Samsung’s Open Innovation Center.

Hawkinson said in a statement: “We believe that there is an enormous opportunity to leverage Samsung’s global scale to help us realise our long-term vision.

"While we will remain operationally independent, joining forces with Samsung will enable us to support all of the leading smartphone vendors, devices, and applications; expand our base of developers and enhance the tools and programs that they rely on; and help many more people around the world easily control and monitor their homes using SmartThings.”

The company, which makes smart-home controllers, was originally funded on Kickstarter.

The value was revealed to Re/code by anonymous sources.