Taiwan Stock Exchange-listed phone maker HTC Corporation has made a £30m (approximately $48m) strategic investment in Saffron Digital, a London, UK- and Los Angeles, CA-based global mobile delivery platform company.
HTC acquired its stake in Saffron from Funds ProVen VCT and ProVen Growth & Income VCT (PGI VCT), managed by venture firm Beringea LLP.
As stated by Peter Chou, CEO of HTC, the investment in Saffron will support HTC in increasing global service delivery capabilities and expertise.
Shashi Fernando, CEO of Saffron Digital, added that HTC’s investment provides the company with an opportunity to expand into new markets like Asia and new sectors like games and music delivery.
Saffron will continue to provide its media and content services to its third party partners, which include device manufacturers, network operators and content providers in 26 countries.
The company’s proprietary technologies provides clients with the ability to support multi-device media delivery, encoding and Domain Based DRM. They have been integrated into products by industry-leading companies including Nokia, Sony Ericsson, HTC, LG and Samsung and services for Sony Pictures, NBC Universal, Paramount, 20th Century Fox, Sky, T Mobile and Vodafone.