Alphonso

History

2021: LG Electronics was purchased by Alphonso

At the beginning of January, 2021 announced LG Electronics acquisition of a controlling stake of Alphonso, company which is engaged in software development for data analysis. LG Electronics she intends to use solutions of Alphonso and own technologies in development of a line of TVs of Smart TV.

LG invests about $80 million in purchase of nearly 60% of stocks of Alphonso which preliminary estimate made about $125 million. Actions of the current investors, including Manifest Investment Partners, will be redeemed by LG within the transaction, and the remained stocks are owned by founders of Alphonso, present and former employees of the company and also different advisers. The transaction gives to LG an opportunity to purchase Alphonso rest within the next three-five years.

LG Electronics was purchased by Alphonso

LG Electronics since 2016 provides to consumers own free stream service with support of advertizing which is called LG Channels, and will continue to make efforts for improvement of consumer services, - Edward Li, the director of the LG webOS business group on advertizing in Seoul told. - The purpose of acquisition is use of the software of Alphonso, analytics of data and opportunities of media planning in house entertaining products of LG, generally in smart TVs and also for more complete satisfaction of needs of users in interaction with content.

The chief executive of Alphonso Ashish Hordia does not expect that investments of LG will influence work of Alphonso with other producers of TVs, partly because Alphonso will continue to work as independent subsidiary company, adhering to regulations on preserving of confidentiality.

Merge to LG Electronics will provide to Alphonso support of one of world leaders in the field of creation of products for house entertainments with access to a huge number of the connected television screens. We will be able to increase as much as possible our cross impact by the television market and to integrate our technologies on advantage to all ecosystem, - added Hardia.[1]

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