Samsung electronics to acquire Joyent

After acquiring smart home appliances maker SmartThings, and LoopPay, Samsung Electronics has announced that the company will soon acquire Joyent, a cloud computing company. The Korean tech giant said that the transaction will allow it to grow its cloud-based services for its smartphones and Internet-connected devices.

Scott Hammond, CEO at Joyent wrote in a blog post, “As a result of this acquisition, Samsung will become an anchor tenant for Joyent’s Triton and Manta solutions, and will help fuel the growth of our team and the expansion of our worldwide data center footprint."

He further added, "This acquisition, though, is about more than just adding financial muscle and scale. Joyent and Samsung share a culture of innovation and technical excellence, and bring together a set of highly complementary cloud, big data, mobile and IoT technologies.”

Joyent will act as part of Samsung’s mobile communications unit, but continue to operate as a standalone company. Key members of its tech team, including CEO Scott Hammond, CTO Bryan Cantrill, and VP of the product, Bill Fine, will work on Samsung’s cloud projects.

Founded in 2004, Joyent has been positioned as an acquisition spot for several years as peers like Virtustream, SoftLayer, and Metacloud were caught up in a wave of alliances and takeovers. Their main product, which helps power mobile and web apps, include container infrastructure platform Triton and cloud-based object storage service Manta.

According to CrunchBase, Joyent raised a total of $131 million in funding from backers including Intel Capital, Greycroft Partners, Peter Thiel, and Telefonica Ventures.