“Microsoft Corp. has acquired a small home-entertainment technology startup to beef up its Xbox unit, according to people familiar with the matter,” Jessica E. Lessin and Shira Ovide report for The Wall Street Journal.
“The company, id8 Group R2 Studios Inc., was created by entrepreneur Blake Krikorian [and Slingbox founder] in May 2011. Mr. Krikorian will be joining the Redmond, Wash., software giant with a small team. As part of the deal, Microsoft also acquired some patents owned by the startup related to controlling electronic devices,” Lessin and Ovide report. “The price of the deal couldn’t be learned.”
Lessin and Ovide report, “The company, known as R2 Studios, has been working on technology related to distributing and displaying digital media on TVs, a big new battleground for technology giants. The Silicon Valley-based business also talked to Google Inc. and Apple Inc. about a possible deal, people familiar with the matter have said.”
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