Samsung to Buy FläktGroup for €1.5 Billion in AI Sector Play (1)

Samsung Electronics Co. has agreed to buy FläktGroup Holding GmbH for €1.5 billion ($1.7 billion), acquiring the European heating and cooling specialist in its biggest overseas takeover in eight years.

The Korean company inked a pact to acquire all shares of the century-old German company from Triton Investments Advisers LLP. That deal should get done in 2025, it saidin a statement. Samsung’s shares rose as much as 1.6% Wednesday morning in Seoul.

FläktGroup would help bolster Samsung’s position against rivals such as LG Electronics Inc. in the heating, ventilation and air-conditioning market, which is expanding rapidly alongside the ...