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Samsung Electronics acquires TV DVR startup Boxee
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Samsung Electronics has acquired TV digital recording device company Boxee, the South Korean manufacturer said on Wednesday.
Terms of the deal were not disclosed.
Boxee is a DVR that stores content in the cloud and lets viewers watch recordings anywhere without space constraints. Most DVRs allow for a limited number of recordings before the user has to delete shows to make room for others.
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"Samsung has acquired key talent and assets from Boxee," said a Samsung spokeswoman. "This will help us continue to improve the overall user experience across our connected devices."
A representative from Boxee confirmed the company was joining Samsung.
As the world's biggest TV manufacturer, Samsung has been expanding features on its Internet-connected TV sets such as Skype video calling and apps that directly tap Netflix and other streaming video content.
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Many technology giants like Apple, Google and Intel are trying to break into streaming video as a way to hook consumers with their devices.
Founded in 2007, Boxee is based in Israel and has received almost $27 million in funding from venture capital firms such as Spark Capital, Union Square Ventures and Softbank NY.