LG Electronics has made a significant investment in TV and Data Measurement Firm Alphonso. The size of the investment is nearly $80 million, which makes LG the majority stakeholder of the US firm.
“Our investment in Alphonso is a key component of our digital transformation strategy focusing on AI, big data and cloud to fundamentally change how consumers interact with their devices,” said Park Hyoung-sei, president of the LG Home Entertainment Company. “With Alphonso’s TV data analysis capabilities, LG will be able to better fulfill consumers’ needs by providing even more customized services and content to consumers. We are proud to welcome Alphonso to the LG family.”
The investment is a significant one as it brings together two TV industry leaders’ technologies and innovations to LG’s smart TV lineup. The investment is part of LG’s larger plan to use Alphonso software and services, including Alphonso’s data analytics, media planning, and activation, and Video AI capabilities with its broad range of home entertainment products. The combined offering will enrich the consumer services, including content recommendations and LG’s own streaming service, LG Channels.
“LG and Alphonso have a shared vision for advancing the smart TV ecosystem through innovative software and services oriented toward modern new consumer experiences on one end, and highly flexible, lucrative advertising, planning, and measurement offerings for brands, agencies, and broadcasters on the other,” said Ashish Chordia, founder and CEO of Alphonso.
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