HTC Acquires Saffron Digital
HTC today announced that it has acquired Saffron Digital, a company that makes a mobile delivery platform for distributing media content to handsets. Saffron, which has offices in London and Los Angeles, already has a wide range of mobile customers, including LG, Sony Ericsson, T-Mobile, and Nokia. Though HTC is taking ownership of the company, Saffron will continue to serve is existing customers. HTC CEO Peter Chou indicated that the acquisition will be used to help HTC "increase [its] global service delivery capabilities and expertise." The value of the deal was placed at $48 million.