South Korean electronics giant Samsung has purchased Israeli and New York City
streaming media start-up Boxee for $30 million, tech websites reported.
Israeli sites, including The Marker and The Calcalist, confirmed the purchase although there were conflicting reports of the final purchase price, Tech Crunch reported Wednesday.
Samsung confirmed the deal, saying in a statement it has "acquired key talent and assets from Boxee."
The impending acquisition comes after the Tel Aviv start-up unveiled its latest hardware device last October, the Boxee Cloud DVR, with a focus on streaming over-the-air broadcast HD channels and recording the content in those transmissions.
The adding of Boxee makes sense for Samsung, which manufacturers a number of connected devices, including smart TVs. "This will help us continue to improve the overall user experience across our connected devices," a Samsung spokeswoman said in the company's statement.
The Samsung-Boxee joining will find itself in a highly competitive market, full of set-top box offerings, including those of cable and satellite TV companies that have their own DVR services.
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Automakers Turn to China to Fuel Sales Growth
- Pope Francis, Huge Crowd Joyously Celebrate Easter
- GM Boosting China Production Capacity
- GOP Making Bold Play for Oregon Senate Seat
- Delay in Ferry Evacuation Puzzles Maritime Experts
- Report: Iran VP Says Row Over Reactor Resolved
- NASA's Space Station Robonaut Finally Getting Legs
- Confusion, Anger as Sunken Ferry's Relatives Wait
- Iran Denounces U.S. Ruling to Sell Property