It’s official: Samsung Buys SmartThings for $200 Million

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By Kara Swisher, re/code

“Samsung has bought SmartThings, the startup that makes smart-home controllers. While the companies did not disclose the price, sources said the Korean electronics giant paid about $200 million.

SmartThings will continue to be run by CEO and founder Alex Hawkinson and operate independently, Samsung said. But most of its operations — which now include 55 employees in Washington, D.C. and also San Francisco and Minnesota — will be moved to Palo Alto, Calif. to become part of the Samsung Open Innovation Center (OIC) there.”

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Comments

  • Rob Weber

    Congrats to Ben and the whole team!

  • Rory Speith

    contrats! but now both of the MN IoT companies I sent my resume to are moving to the bay area. :(

    • http://tech.mn Jeff Pesek

      Co founder Ben Edwards says “We are keeping and growing an office in Minneapolis.”

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