LG has acquired the Homey smart home platform to expand its ThinQ ecosystem. LG recently acquired Athom, the creator of Homey, and the platform includes a hub, bridge, and app store. The acquisition agreement calls for LG to acquire 80% of Athom’s shares. The agreement also includes a clause that allows LG to purchase the remaining shares within three years.

There is no official data on the value of the LG-Athom deal, but it is estimated to be $61 million. The deal further expands the connectivity options offered by the LG brand. LG’s ThinQ platform running on webOS is primarily limited to LG products, but the new deal will signal an expansion of the ThinQ ecosystem.

The integration of the Homey platform will allow third-party devices to connect to the ecosystem. Unlike the ThinQ, the Homey has an open ecosystem with multiple connectivity options including Bluetooth, WiFi, ZigBee, Z-Wave, and an infrared port. The Homey Pro also connects to Matter and Thread, bringing the number of connected devices to 50,000.

LG’s acquisition of Athom is expected to accelerate the natural evolution of AI towards a software-centric platform. LG previously reportedly acquired Alphonso in 2021. LG is expected to continue these strategic acquisitions as it continues to strengthen its presence in the smart home ecosystem.