HTC Invests $35.4 Million In US-based Magnet Systems, Acquires 17.1% Stake

Posted on Aug 20 2012 - 1:28pm by Editorial Staff

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Although HTC’s OnLive is now another company’s products with HTC bearing the loss of $40 million, the Taiwanese mobile maker invested around $35.4 million in US-based platform firm, name Magnet Systems for a total of 17.1% stake in the company. The investment announcement was first spotted by Reuters, and HTC stated that it will take a 17.1% stake in the company, a Series B investment.

“The investment will bring social, mobile, and cloud capabilities to HTC’s portfolio of service offerings to its mobile enterprise customers,” HTC noted. “The leading-edge social, mobile and cloud technologies at the heart of Magnet’s platform make it an ideal foundation for the applications and services that enterprises will be buying and building in the coming years.”

 

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