HTC Corporation (TPE:2498), a Taiwanese provider of wireless telecommunications devices, said today it had bought a 17.1% stake in US next-generation enterprise platform company Magnet Systems Inc for USD35.4m (EUR28.6m).
Through the purchase, the company will enhance its portfolio of services to its mobile enterprise customers, it said without revealing further details.
Magnet Systems, which is based in Palo Alto, California, is developing a software platform that combines social, mobile and cloud technologies, while reducing the costs and complexity of traditional middleware. It is intended to help enterprises quickly and easily build business applications with social and mobile capabilities.
HTC noted that Magnet’s team has a rich experience in platform development for the enterprise market. The US firm’s CEO and founder, Alfred Chuang, previously acted as CEO of BEA Systems Inc, a provider of enterprise infrastructure middleware products, which Oracle Corporation (NASDAQ:ORCL) took over in 2008. According to the buyer, Magnet’s platform is an ideal foundation for future applications and services.
HTC, set up in 1997 and headquartered in Taoyuan, Taiwan, specialises in the research, development and manufacture of handheld wireless telecommunications devices based on Android and Windows Mobile operating systems. It also offers relevant technical and after-sales service for all of its products.