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Samsung has $1 billion war chest for buying companies to improve software

Rumors by Andrew Kameka on Tuesday October 08, 2013.

rumors · samsung news · industry news · andrew kameka

Please note that this story is based upon rumor and/or speculation.
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Samsung wants to make its software better, but the successful Korean hardware vendor apparently doesn't believe it can do that on its own. Samsung, like practically every successful giant does in this situation, is eyeing a move into the Silicon Valley tech hub in order to acquire the companies and talent that can make its products better.

The Wall Street Journal has published a report that says Samsung wants to "overcome its key weakness: software" and go on a shopping spree to accomplish its goals. The company reportedly wants to push deeper into mobile gaming, location data, and sharing services. Samsung has set aside $1.1 billion to invest in new startups that may be ripe for strategic partnerships or acquisitions, according to the Wall Street Journal.

The report claims to have obtained an internal document that shows a list of companies Samsung would target for mergers and acquisitions. Samsung targeted Atari as a way to build on the intellectual property of the famous gaming company, but those plans never materialized into a deal. It also missed out a chance to acquire Waze, which was eventually snapped up by Google. Other companies on the list that could still be targets include:

- Unity Technologies, a gaming developer responsible for the popular 3D engine used in many notable games.
- Green Throttle Games, a company specializing in mobile-friendly controllers and connecting phones/tablets to TV's.
- Glympse, a company with an app of the same name that shares location with a select group of contacts.

source: Wall Street Journal

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