LG Acquires Homey Smart Home Controller

News controller Homey LG

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LG Electronics has acquired an 80 percent stake in Athom, makers of the Homey smart home controller. They have plans to secure the remaining 20 percent within three years. This acquisition is aimed at enhancing LG’s connectivity within open smart home ecosystems. LG intends to integrate Athom’s capabilities with its Affectionate Intelligence technology to advance AI-driven home innovations. The integration of Athom’s connectivity with the LG ThinQ platform will enable the creation of AI homes that offer personalized space solutions by understanding customer preferences.

Athom, established in 2014, provides the smart home hub ‘Homey,’ which connects with various home appliances and IoT devices. Homey has expanded primarily in Europe and is now available in Australia, Singapore, the US, and Canada. Homey Pro can connect to over 50,000 devices using various connection methods, including Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread. The Homey App Store offers around 1,000 applications for connecting and managing home devices, supported by both official partnerships and community-developed apps.

LG’s acquisition of Athom is expected to enhance the scalability of AI homes by incorporating third-party devices and services. This will provide LG with insights into customer usage patterns and enable the delivery of personalized services. Athom will continue to operate independently, maintaining its business operations and branding.

The acquisition aligns with LG’s strategy to transition from a hardware-focused to a software-based platform business. This follows LG’s 2021 expansion into the TV platform market with the webOS platform and the acquisition of Alphonso, which now operates as LG Ad Solutions.

The global smart home market is projected to grow significantly, with market research firm TechNavio forecasting an increase from USD 81.2 billion in 2023 to USD 260.24 billion by 2028. LG aims to become a ‘Smart Life Solution Company’ by establishing continuous relationships with customers through AI-connected devices.

For more information, visit the LG Electronics website here.

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