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Samsung acquires Cloud DVR maker Boxee for around $30M [u]

updated 03:52 pm EDT, Wed July 3, 2013

Team to work on improving user experience on Samsung connected devices

(Update: Samsung shutting down Boxee service) Samsung has purchased streaming set-top box manufacturer Boxee, according to reports. The acquisition, said to be in the in the region of $30 million, will allow Samsung to potentially incorporate some of the Israeli start-up's software and services into its own smart TV and streaming media device offerings in the future.

Sources of Israeli news site The Marker, as well as those of TechCrunch and the BBC, have advised on the completed purchase, with Samsung releasing a statement saying it had "acquired key talent and assets," continuing "This will help us continue to improve the overall user experience across our connected devices." The company has so far received $28.5 million in funding from Israeli and US investors, and while it is said that the purchase price is not much higher than the level of investment, the 40 members of staff employed at Boxee are said to be retaining their jobs.

It is not clear if Boxee will continue to operate in its current form, or if Samsung will stop offering Boxee services and switch the team over to work solely on Samsung products.

In April, Boxee relaunched its existing Boxee Box system as part of an "all-access" Cloud DVR package. Users in eight metropolitan areas are provided unlimited storage of TV online for $10 per month, with a free version offering five hours of DVR playback a month also available to hardware owners. The set-top box itself is sold for $99.

Update: The Boxee website has been updated with a statement to confirm the purchase, and that users of the Cloud DVR service will be discontinued on July 10th. The company is "working behind the scenes" to make sure the closure causes "minimal impact" to the devices.



By Electronista Staff
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