Insight: LG Buys Athom to Take on Samsung SmartThings and Tech Giants
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On July, 3 2024 LG announced a significant 80 percent investment in Dutch smart home hub and bridge maker, Athom, with plans to purchase the remaining 20 percent within the next three years. Both founders of Athom, Stefan Witkamp and Emile Nijssen, will remain at Athom as executives. TechInsights expects LG’s acquisition of Athom to deliver a win-win for both companies and will help LG to narrow the gap on its smart home ecosystem competitors, Samsung, Amazon, and Google. LG will benefit from Athom’s Homey platform integration as it aims to expand its ThinQ ecosystem and execute on its Affectionate Intelligence strategy; Homey will benefit from LG’s manufacturing, partnerships, and distribution clout.
