Samsung Closes Boxee Acquisition for $30 Million

Paul Lilly

Low risk sale with potential for big rewards

Well, it's official. You may have heard that Samsung Electronics had scooped up Boxee, makers of the self-named cross-platform freeware HTCP software, news of which was first reported by Israel business site The Marker . The initial report spread through the web and went unconfirmed until now. On its website, Boxee gleefully announces that its team will be joining Samsung.

"We started on this journey six years ago, and have been at the forefront of the changing TV and video landscape. We believe that over the next few years the video market will change even more than it has in the past few decades," Boxee said. "Joining Samsung means we will be able to work on products that marry the best hardware and software in the TV space, products that will be used by tens of millions of people and will help to shape the future of TV."

Boxee insists that the buyout will have little impact on current devices, though its beta Cloud DVR functionality will end up a causality; it's slated to go offline July 10.

According to reports, Samsung is paying $30 million to box up Boxee. That's a relatively modest sum that Samsung can afford to absorb if things don't pan out, but if they do, the rewards could be tremendous. Samsung is likely to integrate Boxee's technology into its smart product line (TVs and Blu-ray players), and could end up offering a branded set-top box as well.

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