A report claims that Microsoft is looking to invest in Cyanogen, which makes the CyanogenMod custom ROM based on Android. Wall Street Journal citing people familiar with the matter reports that the Redmond-based company is planning to be a minority investor in a $70 million (approximately Rs. 432 crore) round of equity financing that is likely to see Cyanogen being valued in the "high hundreds of millions".
One of the people said that Cyanogen's financing round might see more strategic investors that have in the past shown interest in the company. Unfortunately, the report does not reveal names of any other "potential investors" likely to take part in financing.
Both Cyanogen and Microsoft spokespersons declined to comment on the matter. WSJ speculates Microsoft's reason for investing in Cyanogen was to use the company's custom ROMs as points to distribute its own apps and services without being discriminated by Google. Previous reports tipped that Cyanogen's CyanogenMod, a popular forked version of Google's Android operating system, was reportedly being eyed by several major companies including Amazon, Samsung and Yahoo, apart from Microsoft for a partnership or acquisition.
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