Korean electronics giant Samsung has acquired mSpot, a leading provider of music streaming, cloud-based radio and video rental services.
Samsung will spread mSpot's mobile cloud-based content to a wider global audience while boosting entertainment services for users of its smartphones and tablets.
“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.
mSpot, based in Palo Alto, CA, launched in 2004 and has been providing white-labeled cloud entertainment services for major US mobile carriers including Verizon, AT&T and Sprint. mSpot's Canadian partners include TELUS and Bell Mobility.
The deal, valued in the $8-$10 million USD range, now sees Samsung competing with Amazon's Cloud Player, Google's Play Music and Apple's iCloud service.
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