LG acquires controlling stake in US data firm Alphonso for $80m
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LG Electronics announced Thursday the South Korean tech giant has acquired a controlling stake of more than 50 percent in US data analytics firm Alphonso, in an $80 million deal for its TV business.
Based in Silicon Valley, Alphonso is a data analytics startup that specializes in TV commercials and various media content.
With the latest investment, LG plans to accelerate its digital transformation strategy that aims to deliver better customized services for LG TV users.
The company plans to utilize Alphonso software and services – including Alphonso’s data analytics, media planning and activation as well as video AI capabilities – with its broad range of home entertainment products.
Alphonso’s combined offerings will enrich consumer services including content recommendations and LG’s own streaming service, LG Channels, to create a robust owned and operated first-screen, cross-device advertising platform with integrated analytics platform for LG TVs and the smart TV marketplace as a whole, LG explained.
Alphonso will 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 Park Hyoung-sei, president of the home entertainment business at LG. “With Alphonso’s TV data analysis capabilities, LG will be able to better fulfill consumers’ needs by providing even more customized services and content to consumers. We are proud to welcome Alphonso to the LG family.”
“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 Ashish Chordia, founder and CEO of Alphonso.
By Song Su-hyun (song@heraldcorp.com)
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