South Korean tech behemoth Samsung has confirmed its latest acquisition: television streaming and recording service Boxee.
Boxee is best known for its Boxee Cloud DVR, which delivers a set-top box and allows users to stream content from televisions and other sources to a broad array of display devices, including tablets.
Boxee had reportedly been exploring potential acquisition opportunities for close to a month before Samsung entered the picture.
“Samsung has acquired key talent and assets from Boxee,” a Samsung spokesperson revealed to The Wall Street Journal on Wednesday. “This will help us continue to improve the overall user experience across our connected devices.”
The news comes as speculation mounts that Samsung will continue to ramp up investments in U.S.-based software and hardware companies in hopes of better diversifying its business and connected-product offerings.
Financial terms of the deal were not disclosed, however, Boxee has raised more than $26 million to date from an assortment of high-profile venture capital firms, including Spark Capital, Union Square Ventures, and General Catalyst Partners.