In the latest sign of its growing appetite for deals, Samsung Electronics said it has acquired a small U.S.-based manufacturer of light emitting diode displays.
Samsung is buying Utah-based YESCO Electronics, which focuses on making digital billboards and message signs, for an undisclosed amount.
Samsung, which makes a number of key components used it its electronic products, operates a display making unit that makes screens used in TVs and smartphones. A vast majority of the company’s liquid crystal display screens are lit by LED lights.
“Samsung will work with YESCO Electronics to deliver durable, long-lasting displays geared for varied and extreme conditions,” the South Korean company said in a statement.
The acquisition is the latest in a string of seemingly unrelated M&A deals by the South Korean technology giant in recent months.
In February, Samsung bought U.S. mobile payments startup LoopPay for an undisclosed sum to beef up software offerings in its flagship Galaxy S6 smartphone.
Just a week ago, its battery-making affiliate Samsung SDI said it will buy Magna International’s battery pack business based in Austria in a bid to strengthen its presence in the market for electric-car batteries. While financial terms for this deal weren’t disclosed, Samsung said it would acquire all of Magna’s 264 employees in the car-battery unit, production sites and existing contracts of the business.
Samsung also recently picked up printing-solutions company in Brazil called Simpress, saying that it aims to boost its enterprise business in the South American country through the acquisition.
At the end of December, Samsung had a cash reserve of $56 billion. Over the years, the conservative company has been more openly acquiring companies with technologies that could improve Samsung’s position in its key mobile and consumer electronics businesses.
Source:
http://blogs.wsj.com/digits/2015/03/05/samsungs-latest-acquisition-utah-based-yesco-electronics/
