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HTC Invests in Magnet Systems, Loses Big on OnLive

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Aug 20, 2012, 8:03 AM   by Eric M. Zeman   @phonescooper
updated Aug 20, 2012, 8:38 AM

HTC recently made a $35.4 million investment in a company called Magnet Systems. Magnet, which is based in Silicon Valley, develops and markets a platform for business applications. "The investment will bring social, mobile, and cloud capabilities to HTC's portfolio of service offerings to its mobile enterprise customers," said HTC in a statement. HTC's investment gives it a 17.1% stake in the company. At the same time, financial disclosures made by online gaming service OnLive show that HTC lost a $40 million investment due to OnLive's recent collapse. HTC said that it will be forced to write-down the investment in its next quarterly statement. HTC recently sold back about 50% of a $300 million investment it made in Beats Audio.

more info at Reuters »
more info at HTC »



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ou Haggard Aug 20, 2012, 2:08 PM
  • Re: ou by XMegadeathX   Aug 20, 2012, 2:15 PM
    • Re: ou by Haggard   Aug 20, 2012, 3:00 PM
      • Re: ou by T Bone   Aug 20, 2012, 3:19 PM
        • Re: ou by Haggard   Aug 20, 2012, 4:29 PM
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  • Re: ou by T Bone   Aug 20, 2012, 8:01 PM
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