Samsung snaps up mSpot, teases a boost to media cloud efforts
Talk of a Samsung cloud service might not have panned out at the Galaxy S III event, but that doesn't mean the Korean electronics giant isn't interested in the space. Samsung has just acquired mSpot, best known for its cloud music storage and its earlier movie streaming tie-ins with carriers. The exact intentions aren't exactly clear -- Samsung is only promising that mSpot's technology will represent a "key integrated offering" on new mobile hardware. Still, the deal suggests that the Music Hub and Media Hub may get that much more cloud-savvy in the future. When asked for comment, Dropbox coyly stated: "It's cool. Being single is the new black."
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Samsung Electronics Acquires mSpot
PALO ALTO, Calif., May 09, 2012 (BUSINESS WIRE) -- Samsung Electronics, Co., Ltd., a global leader in digital media and digital convergence technologies, announced today it is acquiring mSpot, Inc., a leading mobile cloud-based content service provider based in Palo Alto, California.
The acquisition will provide a cloud-based entertainment experience of music, video and radio services for users of Samsung devices, while extending mSpot's cloud and streaming solutions to a broader base of global entertainment fans. The combination will extend mSpot's top class cloud and streaming services while further 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.
The acquisition will include the full scope of technology, assets and human resources under mSpot. Further details of the transaction were not disclosed.
