Samsung Electronics has decided to acquire Joyent company to expand its services in cloud computing and internet-connected devices.Because Samsung looks beyond hardware for revenue growth.
After this deal, Joyent will play a bi-directional role, as a standalone and as a partner with Samsung’s mobile communications unit.Samsung’s cloud projects will continue the key members of Joyent company, including CEO Scott Hammond, CTO Bryan Cantrill, and VP of product and Bill Fine.
Joyent is the third U.S. tech company that Samsung has bought in the last couple of years.SmartThings and LoopPay are other two home appliances maker.With their mutual contributions they developed the magnetic secure transmission (MST) technology to help Samsung Pay compete against Apple Pay and traditional credit cards.
It founded in 2004 but it has got famous very rapidly because of its main products such as container infrastructure platform Triton and cloud-based object storage service
Hammond wrote in a blog post:
“As a result of this acquisition, Samsung will become an anchor tenant for Joyent’s Triton and Manta solutions, and 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, and bring
together a set of highly complementary cloud, big data, mobile and IoT technologies.”
According to CrunchBase, Joyent raised a total of $131 million in funding from backers including Intel Capital, Greycroft Partners, Peter Thiel, and Telefonica Ventures.