Samsung Acquires Rich Communications Services Business from Skyview Capital’s NewNet Communication Technologies
Lahore – November 16, 2016 – Samsung Electronics today announced its acquisition of NewNet Communication Technologies (Canada), Inc. (“NewNet Canada”), a company operating Rich Communications Services (RCS) business within NewNet Communication Technologies. Previously known as NewPace prior to its acquisition by NewNet Communication Technologies, the company is a leading provider of RCS infrastructure and services.
The acquisition reinforces Samsung’s commitment to RCS as mobile networks transition to IP-based networks and services.This acquisition is a critical milestone not just for Samsung but also for the communications industry. As an end-to-end GSMA-compliant RCS solution, it will accelerate the deployment of RCS-enabled networks, providing consumers with a ubiquitous standards-based messaging and communications platform. The acquisition will also enable Samsung to offer interoperable server solutions for mobile operators that do not already have their own RCS infrastructure. By driving significant value for operators and consumers, the mobile communications market can benefit from the broader communications ecosystem.Consumers will benefit from an advanced messaging experience with features such as enhanced calling, group chat, and the ability to easily share and transfer large files including multimedia and high-resolution photos. Unlike othermessaging apps from the market, the use of industry standards ensures users will be able to communicate with anyone on any network, with any RCS-enabled device, as well as SMS-only devices.NewNet Canada, based in Halifax, Nova Scotia, will continue to operate independently under the existing leadership of Brent Newsome and Gavin Murphy as a wholly owned subsidiary of Samsung Electronics Canada Inc.
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