LG Acquires Controlling Stake In TV Data And Measurement Firm Alphonso
LG Electronics and Alphonso today announced a significant investment by LG in Alphonso to bring together the two TV industry leaders’ technologies and innovations to LG’s smart TV lineup. With this investment of nearly $80 million, LG will become Alphonso’s largest investor with a controlling stake of more than 50%.
This is Alphonso’s first investment round since its Series A financing of $5.6 million in 2017, led by Manifest Investment Partners. Alphonso will continue to operate as an independent business under its current brand and leadership based in Silicon Valley.
“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 provide even more customized services and content to consumers and we are proud to welcome Alphonso to the LG family.”
“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. “Becoming part of LG Electronics gives Alphonso the backing of one of the world’s leaders in home entertainment products, with access to a massive global inventory of connected TV screens. We can now maximize our mutual impact on the TV marketplace as we bring our products together and deliver immense value for the ecosystem.”