Boxee acquired by… someone, announcement coming next week (exclusive)

June 14, 2013

Streaming media device/service startup Boxee is expected to announce that its been acquired sometime next week, VentureBeat has learned from sources familiar with the matter.

On Thursday, we reported that Boxee was seeking a potential buyer after initially trying to raise a new round of funding. The company declined comment to VentureBeat about those claims.

Boxee’s latest ‘pivot’ away from providing open-source software for desktops and TVs was ill-received by its biggest supporters. And its new Boxee TV / Cloud DVR storage service (for recording live programming from HD broadcast signals or cable TV)  also wasn’t a huge hit with consumers, despite providing apps to access Netflix, Vudu, Spotify, and others like the open-source software.

Our sources confirmed that Boxee was seeking an acquisition over the last few months, but that there wasn’t much interest among potential buyers. Also, there were apparently very few offers, and the final sale was lower than Boxee had hoped for, too. The company previously raised $26.5 million, and was aiming for another $30 million before deciding to pursue an acquisition.

We don’t know who the buyer is, but it seems like enterprise-level media service/device manufacturing companies (D-link, Cisco) would have the most to gain from a consumer-facing company like Boxee. That said, I doubt companies like Dish Network or TiVo would be able to justify buying Boxee since they already have their own consumer products.

Well update this post when we have more information.

Copyright 2013, VentureBeat

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