Seoul, South Korea — LG Electronics announced on Wednesday that it has signed a deal to acquire Athom B.V., a Netherlands-based home automation company. This strategic move aims to establish an open smart home ecosystem and boost the connectivity of home appliances and IoT devices.
LG Electronics will initially acquire an 80% stake in Athom, with plans to acquire the remaining 20% over the next three years. Financial details of the deal have not been disclosed.
Athom, founded in 2014, is best known for its Homey smart home hub, which integrates home appliances and IoT devices. Homey is available in Europe, Australia, North America, and Singapore and supports multiple connection methods including Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread.
The Dutch company’s open ecosystem has garnered a loyal customer base and is compatible with products from global brands such as Philips and Ikea.
LG Electronics plans to leverage Athom’s technology to create AI-operated homes that can understand customers’ needs and provide optimal solutions. This will involve integrating generative AI into LG’s ThinQ platform, enhancing connectivity and customization.
The acquisition will also enable LG to integrate third-party devices and services, collecting more customer usage data to accelerate the delivery of personalized services.
Despite the acquisition, LG Electronics will maintain Athom’s operating system and brand independence to maximize its growth potential and unique strengths. This approach aims to foster synergies in business, research, and development.
LG Electronics has been progressing its digital transformation strategy, evolving from a traditional hardware-focused company to a software-based platform enterprise. In 2021, the company acquired the U.S.-based TV data analysis startup Alphonso for $80 million, enhancing its software and service capabilities in the TV sector.
With the acquisition of Athom, LG Electronics continues to solidify its position in the smart home market, driving innovation and connectivity for a more integrated and intelligent home experience.
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