SEOUL: Samsung Electronics Co Ltd said on Wednesday it has bought Barcelona-based network data analysis firm Zhilabs, as the South Korean giant gears up to launch products for connected devices and 5G mobile services that require fast data crunching.
Samsung did not disclose the value of the deal, which marks the first announced acquisition in new technologies since companies in the Samsung group pledged in August a 25 trillion won (US$22.23 billion) investment in artificial intelligence, 5G, electronic components for autos, and biopharmaceuticals.
Samsung is betting that Zhilabs, which uses artificial intelligence to analyse network data, would help its transition to newer 5G gear, as it uses automated network analytics tool for fast data crunching.
Established in 2008, Zhilabs provides analyses of network condition, performance, and data traffic for about 50 telecom companies. Fully owned by Samsung, Zhilabs will continue to operate independently under its own management.
Samsung also said on Wednesday that it "will also explore and invest in other business opportunities powered by the emerging technologies".
(US$1 = 1,124.7000 won)
(Reporting by Heekyong Yang; Editing by Gopakumar Warrier and Muralikumar Anantharaman)