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Korea Republic of,United States : SAMSUNG eyes SMARTTHINGS to expand beyond smartphone market

August 18, 2014

Seeking to expand beyond the increasingly saturated smartphone market, South Korean electronics giant Samsung has inked a deal to acquire a US home automation startup SmartThings.

The world leading smartphone maker has announced that it has reached a deal to acquire the US app maker, which enables users to monitor and control their home appliances through mobile devices.

Continuing to run independently under its founder and CEO Alex Hawkinson, SmartThings will become part of the Korean company's Open Innovation Centre, which is tasked to develop Samsung's new software and services.

Samsung stated : "With Samsung's resources and support, SmartThings will be able to expand its platform and become available for even more partners and devices."

The centre's head, David Eun, added : "We are committed to maintaining SmartThings' open platform, fostering more explosive growth, and becoming its newest strategic partner."

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Source: TendersInfo (India)

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