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HTC Invests $35.4M in Mobile Enterprise Firm Magnet Systems

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HTC said Monday it will invest $35.4 million in the mobile enterprise firm Magnet Systems. The investment represents a 17.1 percent stake in the company, Reuters said, and the smartphone maker hopes to use the company to boost its presence in the enterprise field.

HTC has a number of consumer-focused phones on the market, including the flagship HTC One X, but they offer features that enterprise users might not always be interested in. Take Beats Audio, for example, or HTC’s awesome cameras. Those are great features for consumers, but an IT department probably wants a smartphone with a focus on enterprise functionality, not entertainment. Magnet Systems builds enterprise applications and provides mobile sales management tools, such as SalesWIN. HTC could pre-load new and existing tools from Magnet in order to secure additional enterprise orders for its smartphones in the future.

“The investment will bring social, mobile, and cloud capabilities to HTC’s portfolio of service offerings to its mobile enterprise customers,” HTC said.

The move is particularly surprising, however, since HTC recently lost the $40 million it invested in OnLive after the streaming gaming company announced its plans to restructure.

[via Reuters]


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Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...


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