This photo provided by Harman International shows its digital cockpit.
SEOUL, Feb. 11 (Korea Bizwire) — Samsung Electronics Co. said Friday its subsidiary Harman International bought an entire stake in German automotive software firm Apostera to expand its business in the augmented reality and mobility technology sector.
Munich-based Apostera, founded in 2017, is specialized in software solutions for augmented reality and mixed reality, Samsung said, adding that the deal will help strengthen connected car solutions provider Harman’s automotive product portfolio.
Samsung Electronics did not disclose the financial terms of the deal.
Combined with Harman’s digital cockpit product offerings, Apostera’s technologies are expected to narrow the gap between the physical and digital worlds, Samsung said.
“Harman is dedicated to delivering in-car experiences with the speed and flexibility of consumer technology together with the reliability and performance of automotive grade solutions,” Christian Sobottka, president of Harman’s automotive division, said in a press release.
“By seamlessly blending AR with the physical environment, Apostera’s mixed reality solution furthers this goal, transforming any display in the car into a richly contextual experience.”
Samsung, the world’s largest memory chip and smartphone vendor, completed its acquisition of Harman for US$8 billion in March 2017 to expand into the rapidly growing in-vehicle electronics market.
At the Consumer Electronics Show (CES) 2022 last month, Samsung said it had been looking hard for next acquisition targets in order to provide differentiated products for its customers and further expand its business.
“I cannot tell you in detail, but what I can say is that we are extensively reviewing M&A opportunities in various industries, including chip and finished products,” Han Jong-hee, Samsung’s co-CEO, said in a news conference in Las Vegas on Jan 5.
“We are moving faster than you might think. We are open to every possibility, and I think we can deliver good news sooner or later,” he said, without elaborating on the timing of a potential deal or specific targets.
Samsung said the acquisition of Apostera was not part of the M&A plan mentioned by CEO Han.
(Yonhap)
