Protech Startup Zigbang Acquires Samsung SDS’ Home to IoT Business

South Korean protech startup, Zigbang has acquired Samsung SDS’ home internet of things (IoT) unit for an undisclosed amount. Samsung SDS offers smart door locks and wall pads that can be connected to users’ smartphones. The acquisition is a step to increase the market share of Zigbang.

The CEO of Zigbang Sang-woo Ahn has said that with this acquisition the company is planning to revolutionise the smart home market. Samsung SDS tried to sell the smart home IoT unit to an Ireland-based company in 2016 but was not able to reach an agreement.

It is currently operating and generating good revenue in more than 16 countries. Samsung SDS provides end-to-end security detection and response service for IT, OT, IoT, and Cloud domains through one integrated platform.