Samsung is actively pursuing strategic moves on multiple fronts to bolster its technological prowess and market reach, with its investment arm reportedly in talks to back US health-care innovator Exo Imaging Inc., even as Samsung Electronics finalizes a major acquisition in the HVAC sector.
Samsung Electronics Co.’s investment division, Samsung Ventures Investment Corp., is reportedly among a consortium of firms looking to invest in Exo Imaging Inc., a US-based company specializing in health-care software and devices.
According to people familiar with the matter who spoke to Bloomberg, Samsung Ventures may participate in a private fundraising round for Exo.
This round is said to be led by Sands Capital, Bold Capital, and Qubit Health Capital.
The sources, who requested anonymity due to the private nature of the information, indicated that Santa Clara, California-based Exo could secure approximately $100 million in total funding from this round.
In a significant development tied to this potential investment, Qubit Health Chairman Omar Ishrak is also reportedly set to join Exo’s board.
Ishrak brings a wealth of experience to the role, having previously served as chief executive officer at Medtronic Plc and headed General Electric Co.’s health-care business.
Furthermore, Exo is said to be in discussions for a potential partnership with Samsung Medison Co., a Samsung subsidiary renowned for its ultrasound diagnostic devices and its sales of digital X-ray systems and scanners.
These discussions, along with the investment details, are reportedly ongoing, and the specifics could change, the people familiar with the matter cautioned.
When approached for comment, Samsung declined, while Exo, Sands Capital, Bold Capital, and Qubit Health Capital did not respond to requests. Ishrak also did not immediately respond.
Samsung Electronics acquires FläktGroup for €1.5 billion
In a separate but significant strategic maneuver, Samsung Electronics announced on May 14 its agreement to acquire all shares of FläktGroup, a leading global provider of Heating, Ventilation, and Air Conditioning (HVAC) solutions, from European investment firm Triton for €1.5 billion.
This acquisition underscores Samsung’s commitment to expanding and fortifying its presence in the rapidly growing global applied HVAC market.
“Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers,” stated TM Roh, Acting Head of the Device eXperience (DX) Division at Samsung Electronics.
Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.
FläktGroup, headquartered in Herne, Germany, boasts over a century of technological expertise and design capabilities.
The company offers a diverse range of products and solutions tailored to various customer needs, supplying high-reliability and high-efficiency HVAC systems to a wide array of buildings and facilities.
These include critical environments such as data centers requiring stable cooling, museums and libraries managing sensitive historical artifacts, high-traffic airports and terminals, and large hospitals where hygiene, temperature, and humidity control are paramount.
FläktGroup’s strength in data centers and specialized industries
FläktGroup has established a strong reputation in the global large-scale data center market, achieving high customer satisfaction through its product performance, reliability, and service support.
This has translated into substantial revenue growth for the company over the past three years.
FläktGroup’s data center solutions feature industry-leading liquid cooling and air cooling products, which have enabled customers to reduce energy consumption and contribute to achieving lower carbon footprint goals.
Last year, FläktGroup’s innovative technologies were recognized with the DCS Cooling Innovation of the Year Award at the DCS Cooling Awards.
Trevor Young, CEO of FläktGroup, expressed enthusiasm about the acquisition:
We are extremely pleased that FläktGroup has become a part of Samsung Electronics. FläktGroup, as a global top-tier HVAC specialist with over a century of expertise, has been relied on by global large clients for its technological and product innovations. Now, with Samsung Electronics’ global business foundation and investment, we expect to further accelerate our growth.
Beyond data centers, FläktGroup has cultivated a diverse portfolio of over 60 large customers, including leading pharmaceutical companies, biotech and food and beverage firms, and gigafactories, showcasing its broad market applicability and established client base.
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