On March 21, Samsung obscurely states progress may take over Rainbow Robotics and others, after the Bespoke Life Media Day Event at Marsil Community House in Seoul.
Samsung’s Vice Chairman Han Jong-hee of Samsung Electronics said when the company will take over Rainbow Robotics and others. It would be possible for Samsung Electronics to seal some M&A deals within the year, reflect in his voice.
“I cannot reveal target company names, their business areas, or the timing of such deals now,” Han said. “They are high-security matters. We are making progress little by little.”
“Our goal is to complete the deal or deals within this year, but we need to consider the target companies’ situations and positions so we will work it out together with them.”
Samsung Electronics upgraded its robotics business
Well, Since Samsung Electronics acquired Harman in 2017 has made no large M& deals. The company obtain a U.S.-based automotive electronics company, for 9 trillion won (US$6.9 billion). However, it is known that it is promoting M&A;A deals in many different business areas.
On March 15, Samsung Electronics bought a 14.99 percent stake in Rainbow Robotics. M& market insiders believe that there is a possibility of Samsung Electronics acquiring Rainbow Robotics, a robot developer. Additionally, the Korean tech giant signed a call option contract to secure a spike of up to 59.94 percent, leaving the possibility open of becoming the largest shareholder.
Samsung is called to be a walking aid robot due to its first commercial robot, EX1. In 2021 Samsung Electronics upgraded its robotics business task force to a robotics business team.
In 2021, Neubility was selected for C-Lab Outside, a startup fostering program run by Samsung Electronics, and received various support from Samsung Electronics, including customized consulting and opportunities for business cooperation.
Therefore, the process of making investments in certain resources and efforts will be consistent in the robotics business. Nobility, a robot service platform company, announced that it had attracted 3 billion won (US$2.3 million) from Samsung Venture Investment. This will come with more upcoming investments and news of progress.
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