SmartThings Acquired By Samsung For Around $200 Million

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Remember back in July when we said that Samsung was looking to acquire Internet of Things company SmartThings for around $200 million?

It just happened.

That’s another big exit for a company that got its start on Kickstarter.

Apt for their name, SmartThings builds… smart things. Light switches. Water sensors. Door locks. All packaged up and prepped to hook into their iOS/Android app, which lets you control and monitor these devices from afar.

SmartThings had raised about $15.5 million to date (not including the $1.2 million raised on Kickstarter), with its latest round being a $12.5 million Series A back in November 2013.

The company says it will continue to operate independently and under the SmartThings brand, though they’re packing up and moving into Samsung’s Palo Alto branch.