Business

Samsung takes over Israel-based Boxee

South Korean electronics giant Samsung has announced that it bought Boxee, an Israeli firm which makes media streaming devices. The company said that it has acquired key talent and assets from the Israel-based company.

Samsung said, “This will help us continue to improve the overall user experience across our connected devices”. The latest product from Boxee allows subscribers to record TV shows onto its servers and then stream them to computers, TVs and smart devices ‘from the cloud’.

Earlier, the company raised $26.5 million in funds from a number of US and Israeli investors. Samsung is considered to be one of the best companies in the world, offering best smart TVs which offer access to apps, video-on-demand, and all other Internet content and do not need any separate set-top box. Informa Telecoms and Media says that in 2012, about 54 million smart TVs were sold across the globe and it is expected that the number will grow to 221 million in 2017.

Reports have said that the recent takeover might result in a good match, as despite its success, the company is still struggling to convince customers to use its services instead of the services of its competitors. In the TV industry there is a lot of optimism that consumers will want to use these kind of services in the future.