LG acquiring operating system underlines importance of technology
Technology mergers continue to make headlines, as larger firms want to expand their global outreach and continue to offer the best products and services to their customers. Smaller companies, especially those that want to have a positive impact on the business world, would be wise to ensure that all aspects of their organization are in working order.
For example, LG Electronics made a move that it hopes will strengthen its hold in the technological market.
LG Electronics acquired the source code, webOS engineering team and other assets from Hewlett-Packard's webOS mobile operating system. The companies explained in a press release that the technologies will help LG in its creation of smart televisions.
Sam Chang, LG vice president and general manager of innovation and Smart TV, specified in an interview that the webOS features will help the South Korean-based electronics firm expand the web capabilities of its internet-capable TVs.
"This groundbreaking development demonstrates LG's commitment to investing in talent and research in Silicon Valley, one of the world's innovation hotbeds," Skott Ahn, LG's president and CTO, said in a statement. "It creates a new path for LG to offer an intuitive user experience and Internet services across a range of consumer electronics devices."
This is further proof for entrepreneurs who are considering possibly selling their business. It is important to have everything in order, from financial statements to employee records.
While it is not guaranteed that a company like LG will be part of an acquisition strategy, it is important to be as prepared as possible to answer any prospective buyers' questions.