Samsung Electronics has acquired assets and talent from Boxee, the Israeli video start-up credited with changing the television and video landscape. Industry insiders say the reported $30 million buyout will boost Samsung’s software for its Internet-connected televisions.
“Joining Samsung means we will be able to work on products that marry the best hardware and software in the TV space, products that will be used by tens of millions of people and will help to shape the future of TV,” Boxee announced on its blog.
Boxee was a hot startup from the get go and won the Last Gadget Standing competition at the Consumer Electronics Show (CES) in Las Vegas a few years back. The company was founded in 2007. ISRAEL21c listed Boxee as one of the must-have Top Ten gadgets emanating from Israel in 2009.
The South Korean tech giant’s first move upon news of the buyout was to shut down Boxee’s signature cloud DVR service, which allowed people to record TV programs online and watch them when they had time. Samsung has said that as of July 10, no existing recordings will be available.