Telecom Lead Asia: Samsung Electronics is acquiring mSpot, a
mobile cloud-based content service provider.
Samsung
to invest $41 billion in 2012
Samsung Group is raising its 2012 investment to $41.4 billion. Samsung
will be banking on logic chips and OLED displays. The group will add 26,000
employees this year, up from last year’s 25,000. Samsung now employs around
350,000 in total. The investments will be in everything from building
factories to research and development activities to doing mergers and
acquisitions and hiring.
Samsung said the acquisition will include mSpot’s technology,
assets and human resources under mSpot. The company provides white-labeled
cloud entertainment services for major US mobile carriers. It also has its own
brand services available in the Android Marketplace.
Samsung did not share financial terms.
The acquisition will provide a cloud-based music, video and
radio services for users of Samsung devices.
mSpot’s cloud and streaming solutions will reach global
entertainment fans. The combination will extend mSpot’s cloud and streaming
services while enhancing Samsung’s mobile and tablet device entertainment
offerings.
mSpot’s entertainment services will be a key integrated
offering on newly announced Samsung mobile devices.
mSpot shares our vision to bring a best-in-class cloud and
streaming entertainment experience to consumers, and they’ve backed it up with
innovative technical solutions from a great engineering team,” said TJ Kang, senior
vice president of Samsung Electronics’ Media Solution Center.
Samsung is unparalleled in terms of global reach and
cutting edge devices; with our combined resources, we are looking forward to
redefining media consumption across the mobile universe with cloud services,”
said mSpot Chief Executive Officer Daren Tsui.
