Samsung Electronics is acquiring U.S. cloud services company Joyent as it builds its services business around mobile devices and the Internet of Things.
Under the deal, Joyent will operate as a standalone subsidiary and will continue providing cloud infrastructure and software services to its customers. Financial details of the transaction were not disclosed.
Samsung said Thursday the acquisition would give the smartphone maker access to its own cloud platform to support it in the areas of mobile, IoT and cloud-based software and services.
The South Korean company said it had evaluated a number of providers of public and private cloud infrastructure but zeroed in on Joyent in San Francisco because it saw “an experienced management team with deep domain expertise and a robust cloud technology validated by some of the largest Fortune 500 customers.”