Here Is Why Samsung Acquired Joyent

Samsung Electronics Co. (OTCMKTS:SSNLF) has long been known for its smartphones and home appliances, but not anymore. The South Korean giant will have a new offer for its customers as it plans to jump deep in the software and services segment. It has agreed to acquire the US cloud services company, Joyent, but no financial details of the deal have been revealed so far. The San Francisco-based Joyent is a cloud-computing platform provider that had an early back from the Silicon Valley investor Peter Thiel. The 11-year old firm previously has raised $125 million from Mr. Thiel and Intel Capital. Joyent offers big data analysis and computing services to third party companies by renting out its powerful computer servers and data centers. Major competitors of the acquired company include Amazon…

Link to Full Article: Here Is Why Samsung Acquired Joyent

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