Investing.com -- Samsung Electronics Co (F:SAMEq). is nearing a deal to acquire FläktGroup Holding GmbH, a European heating, ventilation, and air-conditioning (HVAC) specialist. This acquisition could be Samsung (KS:005930)’s largest overseas takeover in eight years. The final stages of the negotiation are underway with FläktGroup’s owner, Triton Investments Advisers LLP, which values the German firm at between $1.5 billion and $2 billion, according to a report from Bloomberg, citing sources familiar with the matter.
The acquisition of FläktGroup would strengthen Samsung’s position in the rapidly expanding HVAC market, where it competes with rivals like LG Electronics Inc (KS:066570). The demand for HVAC systems is growing in line with the need for cooling solutions in data centers amid the boom in AI development.
This transaction indicates Samsung’s return to an acquisition-driven strategy, aimed at boosting growth across its various business sectors, including chipmaking, appliances, and smartphones. The potential FläktGroup deal would mark Samsung’s most substantial acquisition since its $8 billion purchase of Harman International Industries (D:HAR) Inc. in 2017.
The negotiations are still ongoing, and there’s a chance they could fall through. However, an acquisition would align with Samsung’s renewed focus on key business areas. Both Samsung and Triton have declined to comment on the matter.
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