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Samsung Electronics in shopping spree buys Canada-based AdGear

2016.06.24 15:29:04 | 2016.06.24 15:29:35
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Samsung Electronics Co. acquired Canada-based digital advertising firm AdGear in less than a week since it declared takeover of American cloud service provider Joyent Inc. on June 15, underscoring its expansion and reinforcement of software front through mergers and acquisitions of overseas startups.

Samsung Electronics did not disclose the deal price or other details, but its shopping spree on small-sized startups suggest that the company focuses more on enhancing its existing businesses than exploring new fields. An unnamed high-ranking official at Samsung Electronics said the company has opted to buy technologies and services that it needs, instead of developing its own internally.

Prior to the recent acquisitions, the electronics maker purchased stakes in two U.S-based startups - connected home platform provider SmartThings and mobile payment technology developer LoopPay.

LoopPay played a central role in developing Samsung Electronics’ mobile payment system Samsung Pay, and the Korean electronics maker was able to make a turnaround in the global mobile payment space where it had lagged behind Apple Pay and Google’s Android Pay.

SmartThings that provides Internet of Things platforms also has helped upgrade the Korean company’s home appliance business. And Joyent is expected to add values with its cloud technology where the electronics maker lacks expertise.

Samsung Global Innovation Center, a unit based in Silicon Valley, has been spearheading the latest M&A deals and adding a boost to the electronics maker’s efforts in enhancing Samsung’s technological fronts. The company is also aggressive in searching for innovative companies in new areas.

By Lee Seung-hoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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