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LG Electronics acquires majority stake in Athom

July 4, 2024

Posted by: Magda Dabrowska

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LG Electronics has acquired an 80% stake in Athom to strengthen LG’s position in the smart home market. The company’s founders Stefan and Emile will stay on as executives.

With this acquisition, the Homey operating system, connectivity and partnerships that Athom has developed over the past ten years will become available to LG, instantly making LG one of the leading provider of smart home solutions worldwide.

Homey will continue as it is, with Athom remaining committed to developing Homey Cloud and Homey Pro, and keep working on an ever-expanding lineup of new products. Backed by LG’s knowledge and experience in manufacturing, partnerships and worldwide sales, Homey can now grow even faster than before.

Both the founders, Emile Nijssen and Stefan Witkamp, will stay on as executives of Athom, and continue to execute their vision and create a better smart home for everyone.

In the near future, LG will embed Homey technology in its products, bringing Homey’s connectivity and integrations to LG customers. A wide range of LG products will now be able to embed Homey’s operating system and instantly utilise the smart home platform for connectivity and its versatile functionality.

Both companies will work together to create unique product synergies, starting with integrating LG ThinQ-powered Home Appliances with Homey. Collaboration in the field of energy management will also bring new and better home energy management solutions to both LG and Homey customers. A deeper integration with WebOS will empower LG TVs to take an even more central role in the customer’s smart home.

“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,” said Jung Ki-hyun, the executive vice president and head of LG’s Platform Business Center.

Stefan Witkamp, the founder and commercial director of Athom, said, “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.”

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