Microsoft has beat both Apple and Google in acquiring a startup named R2 Studios, which primarily works in home automation and entertainment. R2 holds a number of patents that have to do with using various mobile devices to control home entertainment software and hardware, and Microsoft is reportedly sending the company to work with its Xbox division. R2 was founded by Blake Krikorian, who also founded the company behind the Slingbox, a set-top device that allows users to stream video across the cloud.
This all sounds like fuel for Microsoft's SmartGlass application, which uses various mobile devices to control and interact with the Xbox. Since we're expecting to see a brand new Xbox console this year, R2 could be sent to work on any number of new products or services.