HTC invests in mobile enterprise app developer

HTC takes 17.1% stake in Magnet Systems to tap its mobile app platform

Tags: HTC CorporationMagnet Systems Inc ( developer
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HTC invests in mobile enterprise app developer HTC is looking to increase its stake in enterprise mobility.
By  Mark Sutton Published  August 21, 2012

Mobile handset maker HTC is building its enterprise expertise, with an investment in a mobile enterprise app developer Magnet Systems.

HTC has invested $35.4m in Magnet, which will give it a 17.1% stake in the company.

In a filing with the Taiwan Stock Exchange, HTC stated that "the investment will bring social, mobile, and cloud capabilities to HTC's portfolio of service offerings to its mobile enterprise customers."

Magnet Systems is a startup, led by Alfred Chuang, a founder of middleware provider BEA Systems. The company has one main solution at present, the SalesWIN mobile sales management app for Android and iOS platforms.

The company website states its goal as the development of a mobile application platform that will "make it fast and easy to build business applications with social and mobile capabilities while reducing the overhead and complexity of traditional middleware".

HTC recently announced that it would make a $40m loss on its investment in OnLive cloud gaming firm, and a $4.8m loss from its investment in Beats audio company.

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