The $8 billion purchase form Samsung Electronics of Harman, the audio and automotive electronics company, has given the tech behemoth self-assurance to chase additional big agreements, claimed its strategy chief last week. Samsung’s Silicon Valley-located chief strategy officer and president, Young Sohn, claimed that he was eager for top maker of smartphones, memory chips, and televisions in the world to grow in digital health, automotive markets, and industrial automation.
Samsung, which surpassed Intel in 2017 to turn out to be the largest semiconductors maker in the world, has signaled its hunger for deal making over the last year. It claimed that it was looking for businesses to build services and software to additionally differentiate its goods.
On the other hand, it has offered a coupled of details on industries that it is aiming for its push for acquisitions and mergers. “We are dedicated to utilizing M&A as our instrument. I think the acquisition of Harmon assisted us to have more self-assurance,” Sohn claimed to the media in an interview at Helsinki on the account of the Slush tech startup festival. “I think we can carry out lot more in the future.” Sohn seemed to dismiss the possibility for Samsung to participate in additional consolidation in the smartphone or semiconductors markets, where it is also a top player, recommending the firm is concentrated on organic growth plans in these regions.
Sohn in September claimed that Samsung planed to turn out to be a huge player in self-directed driving, building on its acquirement of auto parts provider Harman and its pole place in markets of mobile communications. When asked about Samsung’s potential deal making precedence for the subsequent year, he claimed that the firm might carry on investing to grow its automotive trade. One more category he marked out as an area of chance was digital health.