Samsung Electronics’ newly launched enterprise help division has created a group devoted to merger and acquisition (M&A) tasks, trade sources mentioned Thursday, elevating expectations the Korean tech large will pace up efforts to pursue new takeover offers.
In response to the sources, Samsung Electronics’ enterprise help division, which kicked off final week by reorganizing a process drive launched in November 2017 after Samsung Group closed its Future Technique Workplace, has shaped a separate group for M&A tasks.
The group is led by Ahn Joong-hyun, president at Samsung Electronics who oversaw the corporate’s earlier acquisition tasks, together with the takeover of U.S. automotive electronics agency Harman Worldwide Industries.
Harman Worldwide Industries, which Samsung Electronics acquired for $8 billion in 2017, at the moment posts an annual working revenue of round 1 trillion gained ($679 million), serving as one of many firm’s key companies.
Business watchers count on Samsung Electronics to make full-fledged efforts to foster new development engines via M&A offers underneath the group.
Final week, Samsung Electronics mentioned it accomplished the acquisition of FlaktGroup Holding GmbH, a Germany-based air flow firm.
In June, the Korean tech large signed an settlement with European funding agency Triton to take over a 100% stake within the German heating, air flow and air con firm in a deal price 1.5 billion euros ($1.73 billion).
