Samsung Electronics will acquire Joyent Inc. to expand in cloud computing as the smartphone maker looks beyond hardware for revenue growth.
The deal will help Samsung build its cloud infrastructure, the S. Korean company said in a statement without disclosing a purchase price. The acquisition gives Samsung its own platform to support mobile, internet of things and cloud services.
Samsung Vice Chairman Lee Jae Yong is trying to reduce the company’s focus on manufacturing, which had helped create the world’s biggest maker of phones, TVs and memory chips.
Shipments of Samsung’s Galaxy smartphones and other models fell for a second straight year in 2015 as Apple's iPhones gained traction in the high-end category while models from Huaweiand Xiaomi attracted budget buyers.