Silence Is Golden: Samsung Acquires Quietside
Silence Is Golden: Samsung Acquires Quietside
Samsung Electronics Co Ltd has just acquired US air conditioner distributor service Quietside LLC to expand its “smart home” business. When it comes to smart homes, Samsung has started making smart moves. The South Korean firm has made its second acquisition to bolster this business area after having bought SmartThings which is a platform developer for smart home apps.
SmartThings is US based and it is developing apps which enable users to track as well as control and automate devices within the home. It is known for its happening apps. Smart homes are the top choice of those who want to use technology to make life easier. Through smart home technology, people can take charge of numerous household appliances through a mobile device and it is an new field where rapid growth is occurring. Samsung Electronics is the world's largest smartphone maker. Now it hopes to develop and innovate smart home technology as well.
A spokesperson from Samsung Electronics has indicated that the South Korean firm has just acquired 100% of Quietside. But the South Korean company is keeping mum regarding the price of the acquisition. "Because air conditioning products are a necessity in all buildings, including homes and offices, this acquisition is expected to be of help to our future smart home business," Samsung Electronics has indicated in a statement released by it to the media.
Samsung Electronics does not aim to be a swan song when it comes to home appliances. The company is looking to pip Whirlpool Corporation to become the biggest appliance maker in the globe by the year 2015. Quietside has around 500 stores in the US and it sells air conditioners for homes as well as offices.
With this move, Samsung is also looking to go deeper into the US market apart from boosting its smart home business. Samsung has certainly not kept quiet about their hopes for boosting business through this acquisition. Quietside has been an ally for Samsung for some time now. This master distribution service company is known for providing HVAC or heating, ventilation and air conditioning products. It has been associated with the distribution of Samsung HVAC products since the year 1997.
Samsung's energy efficient and cost effective HVAC products will now be easily accessible for Quietside. Samsung is known for its DVMS system which scores high on energy efficiency. Quietside is also going to add more staff and infrastructure to Samsung's kitty. This is especially with respect to the split ductless and VRF product segments.
Sang Lee who has founded Quietside will continue as its CEO and he will also be in charge of its operations. Lee's achievements speak for themselves. He has over 29 years of experience in the US HVAC market. “The acquisition of Quietside by Samsung provides a terrific benefit to our customers and employees. The rapid growth of our product categories in North America provides a great opportunity for us to scale our business rapidly to meet the needs of the market. The operational capabilities of Samsung and the strength of the Samsung brand will mean incredible opportunities for us all going forward,” he has been quoted as saying according to the media. With encouraging words and confidence from both sides, this acquisition adds value to Samsung's smart home business.
