LG Electronics has acquired an 80% stake in Dutch smart home scale-up Athom for approximately €57 million, enhancing its presence in the growing smart home market.

Information on the Target

LG Electronics has recently acquired an 80% stake in Athom, a scale-up based in Enschede, Netherlands. Athom, renowned for its smart home brand Homey, specializes in the development of smart devices that can be managed through cloud services both inside and outside the home. The agreement stipulates that LG Electronics will purchase the remaining shares within a three-year timeframe. According to the Korean financial newspaper, Korea Economic Daily, the transaction is valued at 85 billion Korean won, approximately €57 million.

Homey is a versatile device that connects and integrates various wireless and smart appliances such as thermostats, washing machines, televisions, soundbars, robotic vacuum cleaners, lamps, and solar inverter systems. This integration enables users to manage, automate, and gain insights into their energy consumption from a single interface, providing improved energy management and savings.

Industry Overview in the Target’s Specific Country

The smart home industry in the Netherlands is experiencing significant growth, driven by increasing consumer interest in home automation and energy efficiency. The emergence of new technologies and the growing availability of connected device