Samsung Electronics has bought mSpot, a technology start-up that streams music and video to mobile devices. The companies announced the deal this week, and did not disclose financial terms, reports the TYTimes.
A service that lets users stream movies and music to mobile phones, mSpot, which is based in Palo Alto, Calif., is one of a number of cloud media services that has struggled to gain traction in the marketplace. But its technology could help Samsung develop entertainment offerings for its phones and other products. Last week, Samsung introduced its new Galaxy S III Smartphone, which includes an improved version of its Music Hub cloud service.
Samsung is not the only big mobile-electronics company looking to become more competitive by acquiring digital music services. In March, it emerged that Beats Electronics, whose majority owner is the Taiwanese cellphone company HTC, was in talks to acquire the streaming music service Mog. That deal has not yet been completed.
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