M&A Deal Summary

Samsung Electronics Acquires Innoetics

On July 12, 2017, Samsung Electronics acquired information technology company Innoetics for 43M USD

Acquisition Highlights
  • This is Samsung Electronics’ 1st transaction in the Information Technology sector.
  • This is Samsung Electronics’ 4th largest (disclosed) transaction.
  • This is Samsung Electronics’ 1st transaction in Greece.

M&A Deal Summary

Date 2017-07-12
Target Innoetics
Sector Information Technology
Buyer(s) Samsung Electronics
Deal Type Add-on Acquisition
Deal Value 43M USD

Target

Innoetics

Athens, Greece
Innoetics delves in developing character-heavy and expressive synthetic voices that can read aloud audiobooks, act in games, or even narrate fairy tales. According to TechCrunch, the technology by Innoetics is very advanced, so much so that it can “listen to a person speaking, train on what that person is saying, and then read out a piece of completely unrelated text in that same voice.”

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Buyer(S) 1

Buyer

Samsung Electronics

Suwon, South Korea

Category Company
Founded 1969
Sector Electronics
Employees106,074
Revenue 300.87T KRW (2024)
DESCRIPTION
Office on Samsung's corporate campus in Mountain View, California.
Office on Samsung's corporate campus in Mountain View, California.

Samsung Electronics is a manufacturer and marketer of a wide range of consumer electronics. Samsung Electronics produces mobile phones, televisions, computers as well as electronic components including batteries, chips, memory and hard drives. Samsung Electronics was founded in 1938 and is based in Suwon, South Korea.


DEAL STATS #
Overall 24 of 29
Sector: Information Technology M&A 1 of 2
Type: Add-on Acquisition M&A Deals 22 of 27
Country: Greece M&A 1 of 1
Year: 2017 M&A 3 of 4
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 VRB

New York, New York, United States

VRB is a developer of apps to capture and view 360-degree content. The company user-facing applications include VRB Home (a shared personal space), and VRBFoto (a spherical photo sharing app). These work alongside our service toolkit-- an extensible avatar creator, headset-to-mobile broadcasting tool, and persistent backend system-- to help users create virtual worlds that are shareable, friendly, and meaningful.

Buy $6M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-28 Fluenty

Seoul, South Korea

Fluenty, Inc. is a machine learning based chatbot to change the way people communicate. Fluenty, Inc. was founded in 2015 and is based in Seoul, South Korea.

Buy -