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Report: Samsung Expresses Interest in Israeli Companies to Boost Mobile Division

Samsung Electronics Co. Ltd, one of the world’s largest cell phone providers, is interested in acquiring two Israeli companies to help it take on its competitors, The Wall Street Journal reported.

The newspaper cites a Samsung document which mentions Israeli mobile search engine developer as a possible target acquisition and video-chat app Rounds. The newspaper mentions specifically that acquiring Rounds would help Samsung compete with Apple’s FaceTime and Google’s Hangout.

The Wall Street Journal noted that Samsung expressed interest in an Israeli company earlier this year as well.

“Samsung was among the bidders for Israeli mobile-mapping service Waze Ltd., according to people familiar with the matter. Google eventually bought Waze for about $1.1 billion in July, a deal that is under review by the Federal Trade Commission. According to one person, Samsung had approached Waze in hopes of making a large investment and forming a partnership, before acquisition talks kicked off,” said The Journal.

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Source: The Algemeiner

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Posted by on October 10, 2013. Filed under Israeli News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.