LG Electronics buys controlling stakes of US-based TV data analysis startup Alphonso. This acquisition is expected to boost LG's software and service capabilities in the TV business. LG has spent about $80 million to acquire a controlling stake of more than 50 percent in Alphonso.

The company stated, "Providing customized and segmented service can ultimately help us to drive customers' trend. We believe it can generate profits across all business areas beyond the TV sector."

LG believes the deal will allow the company to offer enhanced and customized services to users of its smart TVs and streaming platform, as it can utilize Alphonso's data, TV ad analytics, and video artificial intelligence (AI) capabilities.

LG said the acquisition of Alphonso would also help the company to better target North American consumers. Alphonso is known to have the TV viewing data of more than 15 million households in North America, reports Yonhap news agency.

Founded in 2012, Alphonso has been collecting TV data sets and building analytics solutions. It previously worked with other TV manufacturers and technology firms, including Hisense, Sharp, and Toshiba.

The company recently acknowledged with the world's No. 3 auto parts maker Magna International to set up a joint venture to make electric vehicle powertrain products.

LG stated that the acquisition of Alphonso is important since 90 percent of its TVs shipped last year are smart TVs through which users can enjoy video content with an internet connection. The company shipped a total of 30 million units of TVs last year.