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Microsoft acquires start-up id8

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01/03/2013 | 01:29am CET
The interior of a Microsoft retail store is seen in San Diego

Microsoft Corp bought start-up id8 Group R2 Studios Inc as it looks to expand further in technology focused on the home and entertainment, a person familiar with the situation said on Wednesday.

id8 Group R2 Studios was started in 2011 by Silicon Valley entrepreneur and investor Blake Krikorian. It recently launched a Google Android application to allow users to control home heating and lighting systems from smartphones.

Krikorian's Sling Media - which was sold to EchoStar Communications in 2007 - made the "Slingbox" for watching TV on computers.

Krikorian will join Microsoft with a small team, according to the Wall Street Journal, which reported the acquisition earlier on Wednesday. Microsoft also purchased some patents owned by the start-up related to controlling electronic devices, the newspaper added.

Krikorian and a Microsoft spokesman declined to comment.

Krikorian resigned from Amazon.com Inc's board in late December after about a year and a half as a director at the company, the Internet's largest retailer.

(Reporting By Alistair Barr; Editing by Steve Orlofsky)

By Alistair Barr

Stocks treated in this article : Amazon.com, Inc., Microsoft Corporation
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EBIT 2018 32 076 M
Net income 2018 26 141 M
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P/E ratio 2018 24,69
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Average target price 90,6 $
Spread / Average Target 8,9%
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