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Samsung Electronics says to acquire US appliances maker Dacor

39312655 - 04_08_2016 - FIATCHRYSLER-M&A_SAMSUNG ELEC.jpg
South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire US-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.

[SEOUL] South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire US-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.

Samsung said in a statement it will keep Dacor's brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid US$150 million to buy the California-based company.

Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7 per cent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp.

REUTERS