The acquisition will help Samsung continue to improve overall user experience across its connected devices
Samsung Electronics Co, the world's largest television maker, acquired Boxee Inc, a New York-based start-up whose set-top box can record broadcasts and stream online video.
Terms weren't disclosed. Boxee makes video-streaming applications for phones and tablets based on Google Inc's Android and Apple Inc's iOS operating systems, in addition to the software that powers its connected TV box. Samsung said closely held Boxee can help it develop internet-enabled devices. "Samsung has acquired key talent and assets from Boxee," a spokeswoman for the Suwon, South Korea-based company said in an emailed statement. "This will help us continue to improve the overall user experience across our connected devices."
Consumers' living rooms are turning into a major battleground for technology companies this year. Microsoft Corp and Sony Corp are set to release new video-game consoles that emphasise features for streaming and downloading entertainment content. Apple is nearing a deal with Time Warner Cable Inc to add channels for its TV products, people with knowledge of the negotiations said this week.
Avner Ronen, Boxee's chief executive officer, and the Samsung spokeswoman declined to comment on terms of the deal. Boxee had raised $26.5 million from venture capitalists, including New York-based Spark Capital and Union Square Ventures as well as the investment arm of Japan's SoftBank Corp.
The value of Temasek's holdings increased by 8.6 per cent in the year to March 31 from S$198 billion