Mergers and Acquistions News
Categories: Telecoms
February 8th 2011, 16:53PM
Taiwanese firm HTC, maker of the Desire and Wildfire smartphones, has announced a strategic investment in Saffron Digital, a UK-based digital technology firm, as it looks to break into new markets.
Financial terms were not disclosed in HTC's statement, but Reuters reported the investment as being valued at £30 million.
HTC is looking to capitalise on Saffron's "phenomenally successful" year, which has seen its products and services – ranging from video-on-demand to media streaming – used in Europe by firms like Sony Ericsson, T-Mobile, Nokia, LG and HTC itself.
Saffron Digital has developed an incredible expertise in mobile multimedia delivery," said Peter Chou, chief executive officer of HTC.
"This ability to deliver optimized content in the future will be a key asset as content becomes more and more complex and localized."
Saffron will retain its HQ in London while its management team will go unchanged.
HTC has also announced the acquisition of OnLive, a US video game firm, for $39 million (£24 million).
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