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Samsung Electronics has been seeking to conduct large-scale buyouts for years and the company s recent purchase of shares in Rainbow Robotics, a robot development company, is drawing attention, according to industry officials, Monday. Samsung Electronics virtually stopped its corporate acquisitions after acquiring Harman, a U.S. automotive electronics maker, in 2017 for 9 trillion won ($6.88 billion).
As the robotics industry enjoys an upswing in the market, all eyes are on Doosan Robotics and whether it could be Korea s next trillion-won valued company. According to investment bank industry sources, the number one co-robot producer in Korea is preparing to go public this year. It has designated Mirae Asset Securities and Korea Investment & Securities as its lead underwriters, while KB Securities, NH Investment & Securities, and Credit Suisse listed their name as co-underwriters.
Local robotics stocks are enjoying a rapid bull market, reflecting investors expectation over further mergers and acquisitions of robotics companies by conglomerates as well as the government s deregulation moves to foster the state-of-the-art industry. The share price of Rainbow Robotics reached its all-time high of 136,900 won ($104.90) in the early trading hours during Friday s session.
Samsung Electronics and LG Electronics are trying to capitalize on the growing commercial robot market as they plan to release new products and increase the applications of their robots. Industry officials and experts said Tuesday that their expansion into robotics has been facilitated by the development of artificial intelligence technology.