Samsung to buy software firm Joyent to grow cloud computing services

Seoul

SAMSUNG Electronics Co will acquire Joyent Inc to expand in cloud computing as the world's largest smartphone maker looks beyond hardware for revenue growth.

The deal will help Samsung build its cloud infrastructure, the Galaxy maker said in a statement without disclosing a purchase price. The acquisition gives the Suwon, South Korea- based company its own platform to support mobile, Internet of Things and cloud services.