Samsung buys media software company Boxee
Samsung has acquired the media software (and now hardware maker) startup Boxee for $30 million.
The Israeli company had been looking for a buyer for the last few months after it appeared raising for money would be tougher than expected.
“We can confirm that Boxee will be joining Samsung. We’ll have a formal statement on our website later this week,” a Boxee spokesperson said, leaving out any other vital information. Boxee’s 40 employees are expected to keep their jobs.
Since founding in 2007, the company has raised $30 million, so investors will at least get their initial investments back.
Boxee creates media software for desktops and also offers a set-top box that connects to many streaming services and includes the company’s own software for playing local content. Samsung will most likely integrate the software into their Internet-connected Smart TVs into the future.