HTC to Expand Software Business by Acquiring Saffron Digital

By Carrie Schmelkin February 08, 2011

HTC, a leading smartphone maker in Taiwan currently lauded as a global leader in mobile innovation and design, is looking to take its influence a step farther by expanding its software business.

On Tuesday, the company announced its plans to acquire the British digital multimedia company, Saffron Digital, and invest in a United States online gaming firm. Saffron Digital, a global mobile delivery platform company whose products and services reach 26 countries, in 14 languages, was bought  for 30 million pounds ($48 million), or 6.16 pounds per share.

 “Saffron Digital has developed an incredible expertise in mobile multimedia delivery,” said Peter Chou, CEO of HTC Corporation, in a statement. “This ability to deliver optimized content in the future will be a key asset as content becomes more and more complex and localized. We are excited to be working with Saffron to increase our global service delivery capabilities and expertise.”

 HTC will also spend $40 million on 5.33 million preferred shares in the OnLive Inc, HTC said. HTC did not state how big its share in the company would be after the acquisition.

HTC is not the only company reaping benefits from the acquisition, however.

“HTC’s investment increases our global expansion capabilities and provides us with an opportunity to expand into new markets like Asia and new sectors like games and music delivery,” said Shashi Fernando, CEO of Saffron Digital. “We have grown Saffron Digital into one of the best and most exciting digital service providers in the world and this enables us to take digital content delivery to a new level for our customers around the world.”

Saffron Digital will continue to be headquartered in London and Los Angeles and its management team will continue, unchanged. The company will also still provide its media and content services to its third party partners, which include device manufacturers, network operators and content providers in 26 countries.

HTC also announced today that it had agreed to take 5.33m preferred shares in US OnLive, a start-up focused on cloud video game services, for USD39m (EUR29m), in a move to increase its sector portfolio.


Carrie Schmelkin is a Web Editor for TechZone360. Previously, she worked as Assistant Editor at the New Canaan Advertiser, a 102-year-old weekly newspaper, covering news and enhancing the publication�s social media initiaitives. Carrie holds a bachelor�s degree in journalism and a bachelor�s degree in English from the S.I. Newhouse School of Public Communications at Syracuse University. To read more of her articles, please visit her columnist page.

Edited by Carrie Schmelkin

TechZone360 Web Editor

SHARE THIS ARTICLE
Related Articles

Consumer Privacy in the Digital Era: Three Trends to Watch

By: Special Guest    1/18/2018

Digital advertising has exploded in recent years, with the latest eMarketer data forecasting $83 billion in revenue this year and continued growth on …

Read More

CES 2018: Terabit Fiber - Closer Than We Think

By: Doug Mohney    1/17/2018

One of the biggest challenges for 5G and last mile 10 Gig deployments is not raw data speeds, but middle mile and core networks. The wireless industry…

Read More

10 Benefits of Drone-Based Asset Inspections

By: Frank Segarra    1/15/2018

Although a new and emerging technology, (which is still evolving), in early 2018, most companies are not aware of the possible benefits they can achie…

Read More

VR Could Change Entertainment Forever

By: Special Guest    1/11/2018

VR could change everything from how we play video games to how we interact with our friends and family. VR has the power to change how we consume all …

Read More

Making Connections - The Value of Data Correlation

By: Special Guest    1/5/2018

The app economy is upon us, and businesses of all stripes are moving to address it. In this age of digital transformation, businesses rely on applicat…

Read More