LG buys Homi to take on Samsung SmartThings

LG has acquired an 80 percent stake in Athom, a Dutch company known for its products. Homi Smart Home Platform. this deal, LG says It will acquire the remaining 20 percent of Athome over the next three years, a move designed to expand LG’s smart home ecosystem and put it in a position to better compete with rival Samsung. SmartThings Platform,

LG plans to integrate Athome’s existing services Domestic Connectivity — which supports smart devices from Sonos, Ikea, Aqara, Philips Hue, and more — through your devices ThinQ Smart Home PlatformAccording to Homi, its users will soon be able to control ThinQ-enabled LG devices through the platform. Homi has developed a significant user base since its inception in 2014, with Flagship Homi Pro Smart Home Hub Capable of connecting to over 50,000 devices via Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread.

The deal will enable LG to incorporate third-party devices and services into its ThinQ ecosystem for the first time. LG Executive Vice President Jung Ki-hyun refers to the Athome acquisition as a “cornerstone for our AI home business.” LG unveiled the so-called “ThinQ” during CES in January.Affective intelligence” in its ThinQ smart home platform — in which Homi’s connections to appliances, sensors, and lighting can now play a role.

LG says that after the acquisition, Athom will continue to operate as an independent company, and will retain its existing branding and operations. This is a similar move Samsung acquired SmartThings in 2014 for $200 millionSamsung has since built in multi-connectivity SmartThings support SoundbarTVs, smart fridges, monitors, and much more.

“Homi will continue in its current form, with Athom committed to the development of the Homi Cloud and Homi Pro, and working on an ever-expanding lineup of new products,” Homi said in a statement. Acquisition details. “Both founders, Emile Nijssen and Stefan Witkamp, ​​will remain as executive officers of Athome, and will continue to execute their vision and build a better smart home for everyone.”

However the value of the deal has not been officially revealed. Korea Economic Daily Reports It is estimated to be worth around 85 billion won ($61 million). LG also hasn’t clarified how Homi’s connectivity and integration will be incorporated into its products, but it does state that the deal will allow it to “gain deeper insights into customers’ lifestyles and usage patterns” – which may not mesh well with Homi’s “privacy first” philosophy.