Smartphone maker HTC this morning announced that it has made a ‘strategic investment’ of undisclosed size in London, UK-based Saffron Digital, which specializes in the delivery of digital multimedia. HTC is a Saffron customer, and is apparently impressed with its future business potential.
Current shareholders in Saffron Digital include Beringea, NewSmith Capital and Duet Asset Management.
Update: PaidContent reports that the investment size was £30 million (roughly $48 million).
HTC chief executive Peter Chou rationalizes the investment thusly:
“Saffron Digital has developed an incredible expertise in mobile multimedia delivery. This ability to deliver optimised content in the future will be a key asset as content becomes more and more complex and localised.”
Saffron Digital ‘s multimedia delivery technology is integrated into products and services by HTC but also by many of its rivals, including LG, Sony Ericsson, Samsung and Nokia.
The company is operational in 26 countries and 14 languages, and boasts partnerships with companies like Microsoft and Widevine.
The company says it will continue to provide services to these and other third-party partners.
HTC’s investment will allow the company to expand globally, enter new markets like Asia and new sectors such as music and games delivery, says Shashi Fernando, CEO of Saffron Digital.
The company’s headquarters will stay in London and Los Angeles, while its management team will remain intact going forward.
About Saffron Digital Founded in 2006, Saffron Digital is the leading global, multi-DRM, online video platform for the digital entertainment industry; powering end-to-end DRM Video Solutions for major International Carriers, MSO’s, OEMs and retailers. With offices on three continents; Saffron Digital deploys both DSP and Client Implementer platform solutions that play to its core experience in delivering domain based DRM solutions on a global scale for clients including: KDDI, SKY and HTC. Saffron Digital’s has been running cloud based locker and...
HTC Corp, (TAIEX: 2498) produces smartphones running the Android and Windows Phone 7 operating systems for themselves and as an OEM to other manufacturers. Since launching its own brand in late 2006, the company has introduced dozens of HTC-branded products around the world. The company recently introduced the HTC diamond to compete with Apple’s iPhone. Founded in 1997 by Cher Wang, Chairwoman, and H T Cho - former CEO who is a chairman now, HTC made its name as...