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Hanwha acquires Samsung Electro-Mechanics' telecom module biz

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Seoul, Dec 30 (IANS) Hanwha Solutions, a chemical and energy unit of South Korean conglomerate Hanwha Group, said on Thursday it is acquiring the telecommunication module business of Samsung Electro-Mechanics in a bid to diversify its electronics component sector.

Under the agreement signed between the two companies earlier in the day, Hanwha Solutions will take over the WiFi module and the high-speed fifth-generation (5G) milimeter wave (mmWave) antenna module divisions from the Samsung unit, it said in a statement.

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The deal is expected to help Hanwha Solutions further expand into modules business, especially the components for connected devices used in automobiles, such as infotainment and advanced driver-assistance systems, reports Yonhap news agency.

With the acquisition, Hanwha Solutions said it will also seek to tap into fast-growing markets such as wireless earbuds and components for virtual reality and artificial reality devices.

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The two sides plan to complete the takeover process by the end of March next year, according to Hanwha.

–IANS

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na/

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