Samsung has announced its latest acquisition, the company is buying NewNet Communication Technologies.
Samsung has not revealed how much they paid to take over NewNet Communication Technologies.
Samsung Electronics today announced its acquisition of NewNet Communication Technologies (Canada), Inc. (“NewNet Canada”), a company operating Rich Communications Services (RCS) business within NewNet Communication Technologies. Previously known as NewPace prior to its acquisition by NewNet Communication Technologies, the company is a leading provider of RCS infrastructure and services. The acquisition reinforces Samsung’s commitment to RCS as mobile networks transition to IP-based networks and services.
This acquisition is a critical milestone not just for Samsung but also for the communications industry. As an end-to-end GSMA-compliant RCS solution, it will accelerate the deployment of RCS-enabled networks, providing consumers with a ubiquitous standards-based messaging and communications platform. The acquisition will also enable Samsung to offer interoperable server solutions for mobile operators that do not already have their own RCS infrastructure. By driving significant value for operators and consumers, the mobile communications market can benefit from the broader communications ecosystem.
You can find out more details about the deal between Samsung and NewNet Communication Technologies at the link below.
Source Samsung