BREAKING

0

Samsung acquires 10% of Pantech!

samsung

It looks like Samsung will finally manage to acquire 10% of Pantech, investing almost 37 million euros! According to an official announcement from Samsung, via the Korean Press Agency Yonhap, this deal will strengthen Samsung's relationship with Pantech in designing and building more smartphones and tablets.

The two companies have been working closely together in the semiconductors industry even though Pantech is considered to be a competitive company for Samsung. After this announcement, Samsung becomes Pantech's third larger stockholder, after Qualcomm with 11.96%, and Korea Development Bank owning almost 11.81% of the company.

Samsung's acquisition follows the investment decision of the company on Sharp back in March, when the Koreans invested almost 87 million euros in order to obtain 3.08% of the japanese company.

SOURCE

0 Comment