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Samsung rumored to acquire SmartThings, a home automation startup

SmartThings, a home automation startup, has Samsung's eyes attached to it for an $200 million acquisition
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Jul 16, 2014 9:27 am

TechCrunch is reporting that Samsung is looking to acquire SmartThings, a home automation startup for a massive amount of money - ballooning out at a rumored $200 million.

 

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This number might change, as TechCrunch's sources aren't concrete on the deal, or the proposed amount for the acquisition just yet. Samsung is starting to see a drop in revenue from its smartphone business, so we could see the South Korean-based giant move into home automation with a big acquisition like this.

NEWS SOURCES:Engadget.com

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