LG Electronics acquirs controlling stake in U.S. software company Alphonso

Lim Chang-won Reporter() | Posted : January 7, 2021, 12:44 | Updated : January 7, 2021, 12:44

[Courtesy of LG Electronics]


SEOUL -- With an investment of some $80 million, LG Electronics acquired a controlling stake in Alphonso, a U.S. software company that offers TV data and measurement services for brands and agencies, to diversity its TV business portfolio. With Alphonso's TV data analysis capabilities, LG said it can provide even more customized services and content.

LG would become Alphonso’s largest investor with a stake of more than 50 percent. Alphonso software and services including data analytics, media planning and activation will be combined with LG's broad range of home entertainment products, the South Korean company said in a statement on January 7, adding Alphonso would continue to operate as an independent business under its current brand and leadership based in Silicon Valley.

"Our investment in Alphonso is a key component of our digital transformation strategy focusing on AI, big data and cloud to fundamentally change how consumers interact with their devices," said LG's home entertainment business head Park Hyoung-sei.

"LG and Alphonso have a shared vision for advancing the smart TV ecosystem through innovative software and services oriented toward modern new consumer experiences on one end, and highly flexible, lucrative advertising, planning, and measurement offerings for brands, agencies, and broadcasters on the other," said Alphonso founder and CEO Ashish Chordia.

 
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