Samsung announced a deal to acquire San Francisco-based cloud provider Joyent, as it looks to bolster the technology platform underpinning its mobile and IoT services.
The South Korean company said that as smartphones and connected devices have taken hold across the world, cloud computing has become “fundamental in providing users with exciting and reliable services and experiences on their devices”.
While Joyent can benefit from Samsung’s “scale of business, global footprint, financial muscle and its brand power”, it will continue to operate as a standalone company and continue providing cloud infrastructure and software services to its customers.
“Samsung evaluated a wide range of potential companies in the public and private cloud infrastructure space with a focus on leading-edge scalable technology and talent,” Injong Rhee, CTO of the mobile business at Samsung, said.
Joyent’s team, including CEO, CTO and VP of Product, will join Samsung to work on “company-wide cloud initiatives”.
Samsung said it is one of the world’s largest consumers of public cloud data and storage, and will be an “anchor tenant” for Joyent services and a “partner for innovation” in areas such as mobile, IoT, smart homes and connected car.
Financial terms of the deal were not disclosed. It is subject to customary conditions.