Samsung Acquires mSpot9 May, 2012 By: Erik Gruenwedel
Samsung Electronics May 9 said it is acquiring cloud-based mobile entertainment company mSpot.com.
Financial details of transaction were not disclosed.
Samsung, which is coming off a record fiscal quarter and has established itself as one of the few legitimate consumer electronics competitors to Apple, said it would incorporate Palo Alto, Calif.-based mSpot’s platform for subscription and transactional video-on-demand access to movies, music and Web-based radio to its CE devices.
Founded in 2004, mSpot has developed a white-labeled cloud entertainment platform for major U.S. mobile phone carriers, in addition to brand services on Google Play (formerly Android Marketplace) and the App Store.
“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,” mSpot CEO Daren Tsui said in a statement.
Despite a proven track record in mobile entertainment, Tsui foreshadowed a possible partnership with a CE manufacturer in an Aug. 6, 2010, 6Q feature in Home Media Magazine. In that Q&A, he acknowledged that the preferred device to watch home entertainment was a flat-screen TV.
“The key for mSpot is we aim to bridge all media-capable devices,” Tsui told HMM.