Samsung Electronics says to acquire US cloud services firm Joyent

[SEOUL] Tech giant Samsung Electronics said on Thursday it will acquire US-based firm Joyent to boost its cloud computing and "internet-of-things"capabilities for an undisclosed sum.

In a statement, Samsung said the acquisition will help it strengthen its cloud-related infrastructure and services. The company has been more active in making acquisitions in recent years, such as its purchase of LoopPay in 2015, seeking to bolster its software and services capabilities.

"We work closely with startups to bring new software and services into Samsung, and one of the ways we do this is by driving strategic acquisitions," David Eun, President of Samsung's Global Innovation Centre, said in the statement.

REUTERS