LG strengthens IoT portfolio with Athom buy

LG has acquired an 80 % stake in Athom, a Netherlands-based sensible residence platform firm, with plans to buy the remaining 20 % inside three years.

The acquisition will combine Athom’s intensive connectivity capabilities, which hyperlink 1000’s of home equipment, sensors, and lighting units, with LG’s generative AI-enabled ThinQ platform. This mix is predicted to create an AI residence that delivers personalised environments tailor-made to buyer preferences.

“The acquisition of Athom is a cornerstone for our AI home based business,” stated Jung Ki-hyun, govt vice chairman and head of LG’s Platform Enterprise Middle.

“By leveraging the synergy between the 2 firms, we are going to develop our open ecosystem and exterior integration providers, aiming to offer prospects with extra various and multidimensional house experiences.”

Athom, based in 2014, is thought for its sensible residence hub ‘Homey,’ which has gained a loyal buyer base of a whole bunch of 1000’s of customers, primarily in Europe. The corporate’s flagship product, Homey Professional, can hook up with greater than 50,000 units and helps numerous connection strategies, together with Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread.

The Homey App Retailer affords round 1,000 functions for connecting and controlling residence units from numerous manufacturers. Many of those functions are based mostly on official partnerships, whereas others are developed by the energetic Homey neighborhood.

LG plans to leverage this acquisition to include third-party units and providers into its ecosystem, offering deeper insights into buyer utilization patterns and accelerating the supply of personalised providers. Regardless of the acquisition, Athom will proceed to function independently—sustaining its enterprise operations and branding.

This transfer aligns with LG’s broader technique of transitioning from a hardware-focused to a software-based platform enterprise. The corporate goals to determine steady relationships with prospects by units related to the AI residence, remodeling right into a ‘Sensible Life Resolution Firm’ that gives differentiated worth.

William Cho, CEO of LG Electronics, commented: “LG is evolving into an clever house options firm that connects and expands experiences in numerous residing areas.

“We’ll proceed to make strategic investments to shift our enterprise paradigm, as evidenced by our successive entries into platform-based equipment providers and options such because the webOS promoting platform and AI residence.”

The worldwide sensible residence market is projected to develop from $81.2 billion in 2023 to $260.24 billion by 2028, with a mean annual development fee of 26.23 %, in line with market analysis agency TechNavio.

(Picture Credit score: LG)

See additionally: Samsung tackles grid stability with sensible residence vitality system

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Tags: ai, synthetic intelligence, athom, generative ai, homey, homey professional, web of issues, IoT, lg, matter, sensible residence, thinq, thread, z-wave