2014 – BIG ORGANISATIONS, LIKE GOOGLE AND SAMSUNG, BREAK THE BANK BY ACQUIRING SMALLER PLAYERS
Samsung spent close to $200 million to acquire SmartThings and launched it’s Smart Home app that allows users to connect easily and communicate with several Samsung home appliances from fridges and washing machines to ovens and air conditioners among others.
In the same breadth, Google spent $3.2 billion to buy Nest Labs, whose main objective is reinventing devices around the home, like smoke alarms and thermostats. These acquisitions represent the industry’s confidence surrounding the Internet of Things.
But even so, at least you get the idea of who is really behind the technology these giants churn out every other day.