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Samsung buys set-top box maker Boxee

Posted: 05 Jul 2013     Print Version  Bookmark and Share

Keywords:Samsung Electronics  Boxee  media streaming  set-top box  cloud 

Samsung Electronics has acquired Boxee, an Israeli firm that makes media streaming devices. The deal is reportedly valued at approximately Rs.163.04 crore ($30 million).

Samsung said that the company has acquired “key talent and assets from Boxee.”

Boxee’s set-top box allows subscribers record TV shows onto its servers and then stream them to TVs, computers and smart devices "from the cloud".

“We’re pleased to announce that the Boxee team will be joining Samsung,” Boxee, confirming the acquisition deal, stated on its website.

“Joining Samsung means we will be able to work on products that marry the best hardware and software in the TV space, products that will be used by tens of millions of people and will help to shape the future of TV,” the six-year old company said. “We are excited about the next chapter for our team.”

Boxee has previously raised Rs.144.02 crore ($26.5 million) from venture capital firms, including Spark Capital and Union Square Ventures as well as the investment arm of Japanese telecom company SoftBank Corp.

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