The South Korean company, Samsung Electronics announced today that it is going to acquire the cloud-computing company Joyent.
The Korean tech-giant revealed in a statement that the deal will permit it to raise its cloud-based services. The services will be available for its smartphones and Internet-connected gadgets.
Samsung to Acquire Cloud-Computing Company Joyent
Joyent will turn out to be a part of Samsung’s mobile communications unit. But will also continue to function as a separate company after the contract is settled. Important associates of its tech team, comprising CEO Scott Hammond, CTO Bryan Cantrill, and VP of product, Bill Fine, will work on Samsung’s cloud ventures.
Joyent is the third U.S. tech company that Samsung has acquired during the past few years. Others are smart home appliances manufacturer SmartThings, and LoopPay. They established the magnetic secure transmission (MST) technology. It benefits Samsung Pay contest against other mobile payment services like Apple Pay, as well as customary credit cards.
Initiated in 2004, Joyent has been placed as a procurement aim for quite a few years. Peers like Virtustream, SoftLayer, and Metacloud were retorted up in a surge of unions and acquisitions. Its foremost products, which aid power mobile and web apps, have container infrastructure platform Triton and cloud-based object storage amenity Manta.
In a blog post, Hammond revealed:
“As a result of this acquisition, Samsung will become an anchor tenant for Joyent’s Triton and Manta solutions. This will help fuel the growth of our team and the expansion of our worldwide data center footprint.”
“This acquisition, though, is about more than just adding financial muscle and scale. Joyent and Samsung share a culture of innovation and technical excellence. They bring together a set of highly complementary cloud, big data, mobile and IoT technologies.”
Joyent elevated a sum of $131 million in finance from sponsors such as Intel Capital, Greycroft Partners, Peter Thiel, and Telefonica Ventures, according to CrunchBase.