Electronics producer Samsung agreed today to acquire US-based cloud computing technology provider Joyent in a deal that will provide exits to mass media group Liberty Global and semiconductor technology maker Intel.
The amount Samsung is set to pay remains undisclosed. Joyent produces cloud infrastructure and data analysis technology that combines container-native infrastructure, object storage and server-less computing.
Samsung is acquiring the company in order to harness a cloud platform that can support its expanding range of mobile, internet of things and cloud-based offerings. Joyent will continue to provide services to external companies under its existing name, as a Samsung subsidiary, post-acquisition.
David Eun, president of Samsung’s Global Innovation Center, said: “We work closely with startups to bring new software and services into Samsung, and one of the ways we do this is by driving strategic acquisitions.
“Joyent is a great example of a leading and disruptive technology company that will make unique contributions to Samsung while benefitting from Samsung’s global scale and reach.”
Joyent had raised approximately $125m in debt and equity since it was founded in 2005, with Intel’s corporate venturing unit Intel Capital coming on board as an investor in its $4m series A round in 2009.
Intel Capital led Joyent’s $15m series C round in 2010 and subsequently took part in an $85m series D in 2012 that included Telefónica Digital, a subsidiary of telecommunications firm Telefónica; Liberty Global, Weather Investments, El Dorado Capital, Greycroft Partners and Epic Ventures.
The company then raised another $15m from Intel Capital, the Liberty Global-owned LGI Ventures, Orascom TMT Investments (Weather Investments’ new moniker), El Dorado and Epic Ventures in late 2014.