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Samsung acquires cloud TV startup Boxee for ‘tens of millions of dollars’

Samsung Boxee Acquisition

Boxee has struggled to make a name for itself in the home entertainment market, but things just took an interesting turn. According to a report from TheMarker, Boxee has been acquired by consumer electronics giant Samsung for “tens of millions of dollars.” The figure is said to be less than $30 million, which is the amount Israel-based Boxee was rumored to be looking for. Samsung’s Boxee buy could be a good play that will give the company a solid cloud-based DVR and TV streaming service to bolster its entertainment portfolio. Boxee has raised $28.5 million in capital since it was founded in 2007, and its service has gone through several major changes. Boxee started as a media hub but the service now consists of a set-top box with several compatible video apps, and unlimited cloud DVR service that allows users to stream live or recorded TV to computers, smartphones and tablets.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.




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