Samsung announced on Wednesday that the company is the proud new owner of mSpot, a cloud-based service most known for its music storage. The acquisition it set to provide Samsung with the necessary technology to “provide a cloud entertainment experience of music, video and radio services for users of Samsung devices, while extending mSpot’s cloud and streaming solutions to a broader base of global entertainment fans.” The Korean company didn’t specify how it plans to move forward with mSpot, only to say that the acquisition represents a “key pre-installed offering” on upcoming devices. Could the company perhaps be referring to something coming to the Galaxy S III? I wouldn’t doubt it! MSpot CEO Daren Tsui promised today’s news will “redefine media consumption.” Big, big statement there Mr. Tsui.
Samsung Electronics Acquires mSpot
PALO ALTO, Calif., May 09, 2012 (BUSINESS WIRE) — Samsung Electronics, Co., Ltd., a global leader in digital media and digital convergence technologies, announced today it is acquiring mSpot, Inc., a leading mobile cloud-based content service provider based in Palo Alto, California.
The acquisition will provide a cloud-based entertainment experience of music, video and radio services for users of Samsung devices, while extending mSpot’s cloud and streaming solutions to a broader base of global entertainment fans. The combination will extend mSpot’s top class cloud and streaming services while further enhancing Samsung’s mobile and tablet device entertainment offerings. mSpot’s entertainment services will be a key integrated offering on newly announced Samsung mobile devices.
“mSpot shares our vision to bring a best-in-class cloud and streaming entertainment experience to consumers, and they’ve backed it up with innovative technical solutions from a great engineering team,” said TJ Kang, Senior Vice President of Samsung Electronics’ Media Solution Center.
“Samsung is unparalleled in terms of global reach and cutting edge devices; with our combined resources, we are looking forward to redefining media consumption across the mobile universe with cloud services,” said mSpot Chief Executive Officer Daren Tsui.
The acquisition will include the full scope of technology, assets and human resources under mSpot. Further details of the transaction were not disclosed.