The data center cooling market is projected to expand at double digits annually through 2030 due to high entry barriers, outstripping the overall applied HVAC market, which is expected to see a single-digit growth during the same period, according to Samsung.“Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers,” said TM Roh, acting head of the Device eXperience (DX) division at Samsung Electronics.“Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine,” he added in the press release.
FläktGroup was formed through the merger of Fläkt Woods, a Swedish company, and Germany-based GEA Group’s heat exchanger business, both of which Triton acquired in 2014.“FläktGroup, as a global top-tier HVAC specialist with over a century of expertise, has been relied on by global large clients for its technological and product innovations,” Trevor Young, CEO of FläktGroup, said in the press release.“Now, with Samsung Electronics’ global business foundation and investment, we expect to further accelerate our growth.”In addition to data centers, FläktGroup has secured a diverse portfolio of over 60 large customers, including leading pharmaceutical companies, biotech and food and beverage firms and gigafactories.
It represents Samsung’s largest mergers and acquisition deal since its $8 billion purchase of Harman International Industries Inc., a US-based audio and automotive electronics maker, in 2017.“In its acquisition of FläktGroup, Samsung anticipates sustained growth in data center demand due to the proliferation of generative AI, robotics, autonomous driving, XR and other technologies,” it said in a press release.
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