LG Expands Its Footprint in the Smart Home Market
LG has made a significant move in the smart home market by acquiring an 80% stake in Athom, a Dutch company that specializes in creating innovative smart home solutions. This acquisition is a strategic step for LG to expand its presence in the industry and integrate Athom’s cutting-edge technology with its own platform.
Key Highlights of the Acquisition
- LG will purchase the remaining 20% of Athom within three years.
- The financial terms of the deal have not been disclosed.
- Athom will continue to operate as an independent company, maintaining its business operations and branding.
- Emile Nijssen and Stefan Witkamp, the founders of Athom, will stay on as executives.
Integration with LG ThinQ Platform
The integration of Athom’s Homey platform with LG’s ThinQ platform is expected to create a seamless experience for customers. This integration will allow users to control their appliances, sensors, and lighting devices from one central hub, providing a more personalized and efficient smart home experience.
Benefits of the Integration
- Customers can create a tailored environment that suits their preferences.
- The integration will enable LG to expand its open ecosystem and external integration services.
- Users can expect more diverse and multidimensional space experiences with the integrated platform.
About Athom
Athom was founded in 2014 and has since become a leading provider of smart home solutions. Its flagship product, Homey Pro, supports over 50,000 devices and offers various connection methods, including Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread. The Homey App Store features around 1,000 apps for controlling home devices from companies like Philips Hue and IKEA.
Comparison with Samsung’s Acquisition of SmartThings
This acquisition recalls Samsung’s purchase of SmartThings in 2014 for approximately $200 million. Since then, Samsung has integrated SmartThings support into its TVs, appliances, wearables, and compatible smart devices, demonstrating the potential for strategic acquisitions to drive innovation and growth in the industry.
Conclusion
LG’s acquisition of Athom is a significant step towards establishing itself as a major player in the smart home market. The integration of Athom’s Homey platform with LG’s ThinQ platform will provide customers with a more seamless and personalized experience, setting a new standard for smart home solutions.
