South Korean electronics giant Samsung Electronics, today said that it has acquired US-based mobile cloud contents service provider mSpot in order to strengthen its mobile entertainment business.
Without disclosing the financial terms of the deal, Samsung said that it has acquired the entire technology, assets and human resources of mSpot, a provider of music, video and radio services for mobile users.
Samsung, the world's largest maker of mobile phones, memory chips and TVs, said that the acquisition will provide mobile cloud contents for users of Samsung's Galaxy smartphones and tablet computers, and added that the cloud and streaming solutions of mSpot will reach a broader global market through Samsung devices.
mSpot, which competes with like larger, big-name music lockers like Amazon's Cloud Player, is a online music and movie provider. It launched its mobile MP3 streaming in 2010.
Users can upload their own music or movies, and receive up to 5GB of storage for free on a single mobile device, which its competitors charge a fee.
"mSpot shares our vision to bring a best-in class cloud and streaming entertainment experience to consumers, and they've backed it up with great technical solutions from a great engineering team," said TJ Kang, senior vice president of Samsung Electronics' media solution centre.