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Microsoft acquires start-up id8

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01/03/2013 | 01:29am CEST

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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Financials ($)
Sales 2017 96 605 M
EBIT 2017 28 551 M
Net income 2017 19 005 M
Finance 2017 32 379 M
Yield 2017 2,31%
P/E ratio 2017 26,99
P/E ratio 2018 21,81
EV / Sales 2017 4,98x
EV / Sales 2018 4,50x
Capitalization 513 108 M
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Spread / Average Target 4,7%
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Satya Nadella CEO & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Jean-Philippe Courtois President-Global Sales, Marketing & Operations
Amy E. Hood Chief Financial Officer & Executive Vice President
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