October 18, 2011 / 8:02 AM / 8 years ago

HTC says to buy Inquisitive Minds for $13 million

TAIPEI, Oct 18 (Reuters) - Taiwan smartphone maker HTC Corp said on Tuesday it plans to buy Inquisitive Minds, a U.S. maker of children’s software, for $13 million to expand its offering of applications.

In a statement, the company said it planned to make a long-term investment to provide mobile applications geared to children.

Inquisitive Minds, based in California, owns game app Zoodles, which is designed for children aged eight and younger.

HTC, the world’s No.5 smartphone company, has been aggressively expanding its software platform through acquisitions in order to compete with rivals such as Apple Inc and Samsung .

In August, HTC bought a 51 percent stake of the U.S. company Beats Electronics for $309 million to tap the younger consumer segment.

Shares of HTC shed 4.72 percent on Tuesday following a U.S. trade commission preliminary ruling against it in a patent infringement lawsuit with Apple Inc . (Reporting by Clare Jim; Editing by Ken Wills)

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