LG buys over 50% stake in Alphonso for US$80 million
Company to upgrade LG Channel contents with solution
LG Electronics have bought a majority stake in US TV data firm Alphonso.
The South Korean company said on Thursday it has acquired over 50% share for US$80 million of the TV data and measurement company based in Silicon Valley.
Last month, LG announced that it was forming a joint venture with car component company Magna International.
LG said it was diversifying its business areas with the acquisition of Alphonso.
The start-up was founded in 2012. It has its own artificial intelligence video analysis solution used to analyze TV ads and contents. It has data of 15 million households in North America.
LG said it will use Alphonso’s competence to use upgrade its LG Channel streaming service to offer optimized service and contents.
LG shipped 30 million TVs last year.