Samsung to buy US cloud computing startup

People walk past the logo of Samsung Electronics at the company’s headquarters in Seoul on January 28, 2016. Slowing global demand for smartphones as well as memory chips dealt a blow to Samsung Electronics as it reported a 40 percent on-year drop in fourth-quarter net profit. AFP PHOTO / JUNG YEON-JE / AFP PHOTO / JUNG YEON-JE

SEOUL, South Korea (AFP) — Samsung Electronics said Thursday it had agreed to buy US cloud computing company Joyent — the latest in a series of start-up acquisitions aimed at strengthening the South Korean giant’s software capacity.

The purchase of the San Francisco-based firm would provide Samsung with its own cloud platform to support its main mobile business and connect with Samsung household appliances such as TVs, refrigerators and air conditioners, a company statement said.

Samsung did not disclose the value of the deal, which remains subject to customary closing conditions.

It would be Samsung’s third recent acquisition of a US start-up, following that of mobile payment tech firm LoopPay last year and, in 2014, of SmartThings which connects and controls home appliances via mobile handsets.

Samsung has been searching for ways to boost profits as growth in the global smartphone market slows, and has been actively pursuing tech startups, including those in the artificial intelligence field.

Almost all Samsung’s mobile handsets are powered by Google’s Android software and past efforts to develop and promote its own software platform have largely fizzled out.

jhw/gh/dan
© 1994-2016 Agence France-Presse

Related Post

This website uses cookies.