August 20, 2012 / 10:45 AM / 6 years ago

HTC invests $35.4 million in U.S.-based enterprise platform firm

TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp said it will buy a 17.1 percent stake in a U.S. next-generation enterprise platform company for $35.4 million in order to enhance service offerings to its mobile enterprise customers.

A man poses with a replica of the HTC smartphone inside a mobile phone shop in Taipei April 6, 2012. REUTERS/Shengfa Lin

“The investment will bring social, mobile, and cloud capabilities to HTC’s portfolio of service offerings to its mobile enterprise customers,” HTC said in a statement on Monday.

The target company, Magnet Systems, headquartered in Silicon Valley, is a platform builder of a next-generation enterprise applications that accelerates the development and delivery of mobile enterprise applications, according to HTC.

Shares of HTC shed 4.2 percent on Monday, versus a 0.48 percent decline in broader market.

Reporting by Clare Jim; Editing by Ed Lane

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