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Samsung Electronics Co. Ltd. increased its stake in Rainbow Robotics by buying an additional 4.77%. With the latest acquisition, the South Korean electronics firm now owns a total of 14.99% share in the technological mechatronics company that develops and produces industrial robots and other types of robots.
The purchase was revealed through the company’s regulatory filing late last week. As indicated in the documents, Samsung Electronics acquired the additional stake for KRW27.8 billion or about $21.2 million.
According to Korea Joongang Daily, the Yeongtong-gu, Suwon headquartered company, said that the robotics business would be one of its key growth drivers for the future. This plan was also shared with the stakeholders during their general meeting last week.
“We are preparing for the upcoming era of robots,” Samsung Electronics vice chairman, Han Jong Hee, said during the conference. “Samsung is working on securing technologies for commercial deployment, and plans to put forward various robotics businesses based on such technologies.”
It was reported that the Korean electronics giant also purchased a call option that can bring its shareholdings to a collective 59.94%. Then again, this option is set to expire in six years.
Samsung initially purchased a 10.22% stake in Rainbow Robotics in January. It invested KRW59 billion or $47 million for the buyout deal.
With the increased shares in the robotics company, Yang Seung Yoon, an analyst at Eugene Investment, thinks that Samsung Electronics may be looking into a possible merger. He said that this may push through depending on the performance results of the robot business.
“The major aims behind the stock purchasing are likely to be process automation at Samsung companies using Rainbow Robotics’ collaborative robots and development of robot products through joint research,” the analyst said.
Meanwhile, Yonhap News Agency reported that Samsung Electronics is aiming to strengthen the core technologies needed for developing various robots. The company’s vice chairman also said they would expand their product portfolio to allow customers to have useful experiences in the robotics field.
"We will push ahead with a variety of projects this year, including wearable robotic devices," Han Jong Hee said. "We are seeking to make intelligent robots that can evolve by interacting with users and operate according to users' needs."
Photo by: Babak Habibi/Unsplash
