Samsung Confirms Boxee Acquisition

We reported earlier today on whispers coming in from various Israeli news agencies that Samsung had acquired Boxee. At that time both companies had said anything about any deal. Samsung has now confirmed to AllThingsD that it has indeed acquired Boxee. The rumors peg the price at $30 million, but Samsung didn’t mention the terms in its confirmation. Unlike other corporate acquisitions, all staff at Boxee will be retained for now.

Samsung says that this acquisition of “key talents and assets” from Boxee will enable it to continue improving the overall experience across its connected devices. Rumors of Boxee selling out started a couple of weeks back, the company too has confirmed this deal, they are expected to release an official statement later this week. If the $30 million figure holds true, then this deal doesn’t bring much in terms of monetary benefit. Since 2008, Boxee has raised around $30 million in funding, just two years ago it got $16.5 million in a round of funding. Samsung is likely to benefit from this deal, it already offers a Smart TV range of internet connected TVs, those devices might get some enhanced features as a result of this acquisition.

Adnan Farooqui
Categories: General
Tags: boxee, Samsung