Mobile phone recycling: HTC invests $35.4m in enterprise firm

HTC has confirmed that it will purchase a 17.1 per cent stake in a US next generation enterprise platform company for $35.4 million (£22.5 million).

It has said that the investment has been made in order to enhance offerings to its mobile enterprise customers.

The firm – Magnet Systems – is a platform builder of next generation enterprise applications that accelerates the development and delivery of its customers.

News of this investment comes after second quarter sales of the company fell 27 per cent and it expects these to fall even further in the third three-month period of the year.

Shares are also down 70 per cent over the past year and this has seen their share in the Android market fall dramatically.

On the investment, an HTC statement said: “The investment will bring social, mobile, and cloud capabilities to HTC's portfolio of service offerings to its mobile enterprise customers.”

Posted by Simon Thomas

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Written by Mazuma

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