Samsung’s top acquisitions man returns as huge deals expected

Samsung has not participated in the mergers and acquisitions market for more than 7 years, despite having more than $60 billion in cash that it could utilize to acquire new companies. Its absence from this space was also partly due to the legal troubles of heir Lee Jae-yong, who only recently returned to the top job free from all encumbrances.

Another key person who has played a major role in Samsung’s previous acquisitions has returned to Samsung Electronics, as reports about the company finalizing some major acquisition deals pick up.

Samsung’s likely going on a huge shopping spree

Ahn Joonghyun, who is the president and head of the Future Indusattempt Research Division at Samsung Global Research, has reportedly returned to the Management Support Division of Samsung Electronics. This division guides the conglomerate’s management strategy and is also responsible for its focus on mergers and acquisitions.

Joonghyun had led Samsung’s major M&A deals for nearly a decade before relocating to the conglomerate’s consider tank two years ago. He led nearly all of Samsung’s major acquisitions, including the $6.7 billion acquisition of Harman International in 2017.

Reports suggest that Samsung is seeing at potential acquisition tarobtains in the artificial ininformigence, technology, auto parts, and wireless communications segments as it views these industries as future drivers of growth. The company has been piling up cash to fund these acquisitions and it has publicly admitted the increased focutilized on finding better M&A opportunities.

Recent reports have suggested that Samsung is in the running to acquire the HVAC assets of Johnson Controls for more than $6 billion. The company is also declared to be itnerested in acquireing the automotive electronics business of German autoparts company Continental AG.

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