In a significant move set to reshape the smart home landscape, LG Electronics has acquired an 80% stake in Athom, the innovative company behind the Homey smart home platform. This acquisition, announced today, marks a strategic step for LG in bolstering its position in the smart home market, leveraging Athom's cutting-edge technology and expertise.
A Strategic Acquisition to Strengthen LG’s Smart Home Leadership
The acquisition aligns with LG’s broader strategy to enhance its smart home solutions. Athom’s Homey operating system, renowned for its seamless connectivity and extensive partnerships, will now be integrated into LG’s suite of products. This move instantly positions LG as a leading provider of smart home solutions worldwide.
Continuity and Growth for Homey
Despite the acquisition, Homey will continue its operations independently, with a commitment to further developing Homey Cloud and Homey Pro. The founders of Athom, Stefan Witkamp and Emile Nijssen, will remain as executives, ensuring that the vision and innovation driving Homey remain intact. Backed by LG’s manufacturing prowess, global partnerships, and sales networks, Homey is poised for accelerated growth and innovation.
Enhanced Smart Home Capabilities for LG Products
The integration of Homey’s technology into LG products promises to bring unprecedented connectivity and functionality to LG’s smart home appliances. LG’s ThinQ-powered home appliances will be among the first to benefit from this integration, creating unique product synergies that enhance the user experience. Additionally, LG TVs will see deeper integration with Homey’s platform, empowering them to play a central role in smart home ecosystems.
Innovations in Energy Management
Both companies will collaborate on energy management solutions, bringing advanced Home Energy Management capabilities to customers. This collaboration aims to offer more efficient and innovative energy management solutions, leveraging the strengths of both LG and Homey.
Executive Insights on the Acquisition
Jung Ki-hyun, Executive Vice President and Head of LG’s Platform Business Center, expressed enthusiasm about the acquisition: “We were very impressed by the technology, platform, and team that Athom has built with Homey. The acquisition of Athom is expected to enhance the value of our core businesses and ultimately serve as a foundation for our smart spaces ecosystem business.”
Stefan Witkamp, founder and Commercial Director of Athom, shared his excitement: “LG has recently invested heavily in solutions for smart spaces and AI, and we are proud to become part of this innovative, well-performing company. We look forward to working with LG to create better smart home solutions for a growing number of users – through Homey, LG products, or a unique combination of both.”
Emile Nijssen, founder and Creative Director, emphasized Homey’s commitment to quality and innovation: “We remain committed to making Homey the best privacy-first smart home platform in the world, fueled by our love for a great user experience and our open approach to smart home. Being part of LG helps us greatly to bring our vision to a larger number of users – both in its current and new ways.”
Looking Forward: A New Era of Smart Home Solutions
The acquisition of Athom by LG Electronics heralds a new era in the smart home market. With the combined strengths of both companies, consumers can expect a wave of innovative products and solutions that offer seamless connectivity, enhanced functionality, and superior user experiences. This strategic move not only positions LG as a dominant player in the smart home market but also accelerates the growth and innovation potential for Athom’s Homey platform.
Stay tuned for more updates as LG and Athom embark on this exciting journey to redefine the future of smart home solutions.
Source: https://homey.app/en-be/news/we-are-joining-lg-electronics/
