Samsung to pursue large M&A deals

Source: Content from Phoenix News, thank you.

Samsung Electronics Chief Strategy Officer Young Sohn said on Friday that the $8 billion acquisition of automotive and audio electronics company Harman International has given Samsung confidence in pursuing more large deals, Reuters reported on December 2 Beijing time.

As Samsung's president and chief strategy officer, Son Young-kwon said he is eager to drive Samsung's expansion into the automotive market, digital health and industrial automation.

Samsung, which surpassed Intel Corp. this year to become the world's largest chipmaker, has signaled its pursuit of deals over the past year. Samsung said it is looking for acquisition targets to develop software and services to differentiate its products, but it has not disclosed much about the areas in which it is preparing to make acquisitions.

“We are committed to using M&A as a tool. I think the acquisition of Harman has helped us gain more confidence,” Young-Kwon Sohn told Reuters on the sidelines of the Slush technology startup and investment conference in Helsinki. “I believe we can do more in the future.”

Son did not seem concerned about the potential for further consolidation in the semiconductor or smartphone markets, suggesting Samsung is focusing on organic growth in those areas. Samsung is currently the market leader in chips and smartphones. He said in September that Samsung aims to become a major player in autonomous driving, based on its acquisition of auto parts supplier Harman and the company's leading position in the mobile communications market.

When asked about Samsung's acquisition focus next year, he said Samsung will continue to invest and expand its automotive business. Another "area of ​​opportunity" picked out by Sun Yingquan is digital health, especially health and epidemic prevention and related technologies.

Finally, in the business software sector, Sun said Samsung is looking for acquisition targets in the fields of industrial Internet, automation, networking, data transmission and security. "We are a very cautious and conservative company, so we will only do reasonable transactions," Sun said. He also said that Samsung will also implement some small complementary acquisitions.

In September this year, Son Young-Kwon said that after acquiring auto parts supplier Harman and relying on its unique position in the mobile communications market, Samsung will become an important player in the field of autonomous driving.

When asked at the Slush International Innovation and Entrepreneurship Conference about potential priorities for Samsung's M&A deals in 2018, he said the company will continue to invest in expanding its automotive business.

Another “area of ​​opportunity” he mentioned was in the field of digital health, particularly preventive health and related technologies.

Finally, there is the business software space, where Samsung is targeting companies in areas such as industrial internet, automation, networking, data transmission and security, he said.

"We are a very cautious and conservative company, so we will make acquisitions in areas where we think it makes sense," Sohn said, adding that Samsung would not rule out smaller deals in the technology industry.

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