LG Electronics announces the acquisition of US-based TV data analysis startup Alphonso to boost its software and service capabilities in the TV business. The South Korean tech firm has also divulged that it bought controlling stake of more than 50 percent in Alphonso through a deal worth $80 million.

In the aftermath of the deal, LG will be able 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.

In a statement issued by LG, the company wrote, “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.” It further added, “Acquisition of Alphonso will also help us to better target North American consumers.” LG also added that acquisition of Alphonso is important since 90 percent of its TVs shipped last year are smart TVs. LG shipped a total of 30 million units of TVs last year.

A 2012-born company, Alphonso has been collecting TV data sets and building analytics solutions ever since. The company is known to have the TV viewing data of more than 15 million households in North America, as per reports from Yonhap news agency. On the other hand, LG had previously worked with other TV manufacturers and technology firms, including Hisense, Sharp and Toshiba.