SEOUL (Reuters) -Samsung Electronics said on Wednesday that it has agreed to acquire all shares of FläktGroup, a German maker of air conditioning and heating systems, for 1.5 billion euro ($1.68 billion) from European investment firm Triton.
FläktGroup makes heating, ventilation, and air conditioning (HVAC) systems for a wide range of buildings and facilities, including data centers that require stable cooling, Samsung said.
“In its acquisition of FläktGroup, Samsung anticipates sustained growth in data centre demand due to the proliferation of generative AI, robotics, autonomous driving, XR, and other technologies,” Samsung said in a statement.
Samsung said the transaction is expected to close within this year.
($1 = 0.8937 euros)
(Reporting by Hyunjoo Jin and Jack KimEditing by Ed Davies)
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