Samsung Electronics has confirmed that it has purchased the video streamer Boxee in a transaction believed to be in the region of $30 million.
In a statement the South Korean electronics giant said it had “acquired key talent and assets” from the company.
As of Wednesday evening there had been no confirmation from Boxee itself.
Samsung is looking to improve its user experience across connected devices.
Originally developed as a software platform, Boxee later launched its own set-top box, pitching the Tel-Aviv start up against other devices including the Apple TV box and Roku.
It has also developed its own cloud based PVR, known as Cloudee
Samsung has received some criticism on the user friendliness of its Smart TVs and the software has gone through several iterations.
Since its inception in 2007 Boxee has received three rounds of funding totalling $26.5m in investments from Spark Capital, Union Square Ventures, General Catalyst Partners, Pitango Venture Capital, and Softbank NY.
If confirmed the $30 million purchase will not go down as a success for the venture partners.
