Samsung's top acquisitions man returns as big deals expected

Another key person who has played a major role in Samsung's previous acquisitions has returned to Samsung Electronics, as reports about the company finalizing some major acquisition deals pick up.

Samsung's likely going on a big shopping spree

Ahn Joonghyun, who is the president and head of the Future Industry Research Division at Samsung Global Research, has reportedly returned to the Management Support Division of Samsung Electronics. This division guides the conglomerate's management strategy and is also responsible for its focus on mergers and acquisitions.

Joonghyun had led Samsung's major M&A deals for nearly a decade before moving to the conglomerate's think tank two years ago. He led nearly all of Samsung's major acquisitions, including the $6.7 billion acquisition of Harman International in 2017.

Reports suggest that Samsung is looking at potential acquisition targets in the artificial intelligence, technology, auto parts, and wireless communications segments as it views these industries as future drivers of growth. The company has been piling up cash to fund these acquisitions and it has publicly admitted the increased focused on finding better M&A opportunities.

Recent reports have suggested that Samsung is in the running to buy the HVAC assets of Johnson Controls for more than $6 billion. The company is also said to be itnerested in buying the automotive electronics business of German autoparts company Continental AG.