Samsung confirms Boxee purchase

<p>Samsung has confirmed it has bought Boxee.</p>

Samsung's share price is up today (July 4th) on the back of the news that it has completed the purchase of set top box manufacturer Boxee.

The South Korean electronics company explained that it has bought the Israeli firm so that it can "continue to improve the overall user experience across our connected devices".

Subscribers to Boxee are able to record TV shows on to its servers and stream them to TVs, computers, tablets and smartphones from the cloud.

Paul Jackson, principal analyst at Informa Telecoms and Media, noted the rise of smart TVs is going to continue in the coming years.

"Boxee has been playing with its own TV user interface and has a good reputation for making a link between its hardware and a back-end service," he said.

Samsung's share price is up by 1.23 per cent in the wake of the news it has obtained some of the key talent at Boxee.

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