Samsung announced today that it is acquiring mSpot, a mobile cloud entertainment provider. The purchase will allow Samsung to provide mSpot’s Movies and Music services on their phone and tablet devices. It also fits with the trend Samsung set in its announcement of its new flagship smartphone, the Galaxy S III. That phone will be packed with exclusive Samsung software and services. No details on the acquisition, such as mSpot’s price, have been announced.

“mSpot shares our vision to bring a best-in class cloud and streaming entertainment experience to consumers, and they’ve backed it up with great technical solutions from a great engineering team,” said TJ Kang, Senior Vice President of Samsung’s Media Solution Center.

mSpot currently runs two media products, both available for the iPhone and Android platforms. mSpot Music offers cloud storage and streaming for music similar to Google Music and Apple iCloud, which the company has had to compete with over the past year. mSpot Movies is allows users to rent movies for as little as $2 and stream them across nearly any device.

“Samsung is unparalleled in terms of global reach and cutting edge devices; with our combined resources, we are looking forward to redefining media consumption across the mobile universe with cloud services,” said mSpot CEO Daren Tsui.

Purchasing mSpot brings Samsung straight into the streaming media market and gives it the services and technology to instantly compete in that arena with Amazon, Apple, and Google. The move might lend credence to rumors that Samsung is looking to shed Google’s Android platform and strike out on its own. If Samsung were to do that, now is the time. The company has clawed its way to the top of the Android heap and recently even shipped more devices than Apple in the first quarter of 2012.

What do you think? Is Samsung positioning itself as Apple’s main competitor? Will mSpot’s services improve Samsung’s devices in a meaningful way? Leave a comment below and let us know.