Samsung accelerates its plans to acquire firms for future growth

Samsung's position has been improving recently, and it wants to make sure that its business grows at a good pace in the future. The South Korean firm is now accelerating its plans to acquire other firms that could hold the key to its future growth.

A report from South Korean media suggests that Samsung Electronics has set up a new business support division, which has a dedicated team to look after the company's merger and acquisition projects. This move has reportedly raised expectations that Samsung will speed up its efforts to purse new acquisition deals.

The company's Task Force division, which was launched in November 2017 after the Future Strategy Office was disbanded, has now been reorganised and has a separate M&A (Merger and Acquisition) team. This team is now headed by Ahn Joong-hyun, who is a president at Samsung Electronics and oversaw the company's previous successful acquisitions, such as that of Harman International.

Just last week, Samsung completed the acquisition of FlaktGroup Holding GmbH, which is a German ventilation company. This acquisition was planned six months ago. With this acquisition, Samsung is eyeing the data center HVAC (Heating, Ventilation, and Air Conditioning) market, which is growing at a fast pace due to the AI boom.

The company should look at investing in firms that could help improve its ecosystem and services, such as AI, music streaming, health, and professional tools. It has already acquired the US-based health firm Xhealth and integrated its services into Samsung Health.