In a headline move for the industry of online streaming-specifics, set-top box provider Boxee have become the property of South Korean technology giants Samsung for an estimated price of $30m.
Given the money being transferred for technological properties in recent times, the Israeli start-up may have a right to feel a little short-changed on the deal given the amounts that circulate their rivals in set-top box streaming, but it would have presumably been a fair price agreed upon in the terms of the deal, which are currently undisclosed.
Boxee, who through a spokesperson confirmed they were becoming a ‘part of Samsung’ yesterday (3 July), are notable for being a ‘DVR’ service that allows users to store content through cloud technology for limitless viewing space-wise, whilst also allowing the user to stream content wherever they are via a range of devices.
It is all now a list of features that new owners Samsung can boast about as well, though, as a spokeswoman for the company summarised the deal, stating: “Samsung has acquired key talent and assets from Boxee. This will help us continue to improve the overall user experience across our connected devices.”
One of the world’s biggest and most innovative TV manufacturers, Samsung have developed plenty of features into a smart TV in their recent history, but one area that has been missing from their portfolio has been a set-top box of any sort to rival the likes of Roku and Apple TV (despite having dongles that achieve similar effects), not to mention one that carries connected streaming features and content recording. It appears now, though, that they are making up for lost time by claiming a ready-made company that has ‘box’ built into the name…
For 6-year-old Boxee, meanwhile, the takeover will join a total of $27m raised in previous funding from the likes of Spark Capital and Softbank NY, but could the support from Samsung offer much more than financial security when it comes to their ongoing development?