February 16, 2025

Information is breaking that Korean LG (inventory XKRX) has acquired 80% of Dutch Athom B.V.

In keeping with the Korea Times, monetary particulars of the deal haven’t been disclosed, however LG is ready to amass 80% of Athom instantly with plans to amass the remaining 20% over 3 years.

Athom are the makers of the much-loved Homey Professional sensible residence hubs. I personally not too long ago purchased a Homey Professional as a part of my first steps into constructing out a wiser residence.

The Korea Occasions articles went on to incorporate “LG Electronics stated it plans to create AI-operated properties that perceive prospects’ wants and supply optimum options by way of the acquisition of Athom. This will likely be achieved by leveraging Athom’s connectivity and integrating generative AI into LG’s ThinQ platform.”

Digging for more information on the LG/Athom deal.

Implications

It’s too early to say what this implies long run, but when I needed to wager, I might say that is excellent news for anybody already purchased in to the Homey ecosystem.

With the backing of LG, it appears probably that Homey will likely be planning for better distribution and deeper pockets for assist and growing the product roadmap.

Making a splash

With the acquisition of Athom, LG are making an announcement concerning the significance of the sensible residence for his or her enterprise.

They little question see alternatives for deeper integrations, higher distribution and buying the prevailing Athom mental property moderately than constructing from scratch.

As a buyer who not too long ago purchased a Homey Professional (I haven’t set it up but, keep tuned), this looks like excellent information for the long run viability of Homey. I assume we’ll must see the way it all performs out, however I believe this makes Homey a fair larger contender within the sensible residence hub/ecosystem market.

Sure, there have been loads of merchandise and types that have been acquired by massive firms solely to be despatched to the darkish nook of a basement, however this doesn’t really feel like a kind of conditions.

Congratulations to everybody concerned within the deal and right here’s hoping Homey soars to new heights on the again of this deal (even when the LG inventory worth didn’t assume a lot of the information!).