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HTC sells Saffron Digital to Cinram for USD 47 mln
2013-09-05 10:15:00| Telecompaper Headlines
(Telecompaper) HTC has agreed to sell Saffron Digital, a specialist in multi-screen video delivery, to Cinram for USD 47 million. HTC will retain a perpetual royalty-free licence to continue supporting digital media services on its devices, including the upcoming HTC Watch, on a worldwide basis. Cinram will pay an initial USD 7.5 million cash and the remainder in a five-year note of USD 39.5 million, bearing interest at 6 percent per year. HTC acquired UK-based Saffron in 2011 for GBP 30 million, as part of efforts to boost content services on its mobile devices. Based in Canada, Cinram provides manufacturing and logistics for CDs, DVDs and other digital media products.
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Category:Telecommunications