Samsung to acquire US network service provider
Samsung Electronics announced on Jan. 14 that it plans to acquire TeleWorld Solutions, a Virginia-based network service provider.
TWS specializes in providing network designs, installations, testing and optimized solutions to mobile service and cable operators as well as original equipment manufacturers.
With the latest deal, Samsung is expected to increase its presence in the network infrastructure market as an end-to-end service provider.
The South Korean tech giant has been supplying network equipment to large-sized mobile carriers in the US, including Verizon, AT&T and Sprint.
“The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks, and eventually create new opportunities to enhance our service capabilities for our customers,” said Cheun Kyung-whoon of Samsung EVP.
TWS, a privately owned company, will become a wholly owned subsidiary of Samsung Electronics America, the company said. Financial details of the agreement have not been revealed.
By Shim Woo-hyun/The Korea Herald (firstname.lastname@example.org)