LG Acquires Athom for $61M to Boost AI-Driven Smart Home Experience
July 4, 2024LG Electronics acquired an 80% stake in Dutch smart home platform firm Athom for an estimated $61 million.
LG plans to acquire the remaining 20% of Athom within three years.
The acquisition aims to integrate Athom’s Homey smart home hub with LG’s ThinQ platform to create an AI-driven home experience.
This move is part of LG's strategic shift towards a software-based platform business.
The smart home industry is evolving with new technologies like Matter simplifying device connectivity.
In related news, Amazon is discontinuing its Astro for Business robot.
Samsung's SmartThings platform has launched a demand response program.
New smart devices, such as a leak detector by SwitchBot, are entering the market.
Summary based on 6 sources
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Sources
The Verge • Jul 3, 2024
LG buys Homey in a very Samsung SmartThings moveThe Verge • Jul 3, 2024
All the smart home news, reviews, and gadgets you need to know aboutZDNET • Jul 3, 2024
LG acquires Dutch smart home firm Athom to beef up AI home business