Samsung acquire US content firm

By Kim Yoo-chul

Samsung Electronics completed a deal to acquire U.S. digital entertainment company, MSpot, according to industry sources Sunday. The negotiations were first reported by The Korea Times in June last year.

The California-based MSpot is a provider of Internet streaming services for movies, music and other content and currently has a customer pool of about 6 million. Samsung, the Korean technology giant with leadership in consumer electronics and mobile devices, is desperate to strengthen its content ecosystem for its smartphones and touch-screen tablets.

MSpot was just one of many digital entertainment companies targeted by Samsung, sources said, as it looks to established a server-based, ``cloud’’ computing platform for content that will allow users to download video, music and games anywhere on any device.

The deal for MSpot is thought to be worth around 10 billion won, the sources said.

Samsung, which enjoys a dual strength in parts and finished products, has been aggressive in the merger and acquisition (M&A) market lately.

In August last year it acquired U.S. semiconductor technology firm Grandis, months after it absorbed Dutch display developer Liquavista. The company also appears to be in the hunt for mobile-phone tech companies, according to industry officials.