View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Hardware
August 4, 2016

Samsung said to be in talks to acquire Fiat Chrysler auto-parts unit

News: The deal if signed could be Samsung's biggest-ever purchase outside South Korea.

By CBR Staff Writer

Samsung Electronics is reportedly in negotiations to acquire Fiat Chrysler Automobiles’ auto parts maker, Magneti Marelli, for over $3bn.

Citing people familiar with the matter, Bloomberg reported that the South Korean firm is particularly keen on Magneti Marelli's lighting, in-car entertainment and telematics business and may consider an acquisition of the entire firm.

The deal if signed could close this year and make it Samsung’s biggest acquisition outside South Korea.

Fiat Chrysler declined to comment on the report. A Samsung Electronics spokesman said the company does not respond to market rumors.

Italy-based Magneti Marelli was established in 1919. It develops and manufactures automotive systems, modules and high-technology components.

The company had a turnover of €7.3bn in 2015, about 40,500 employees, 89 production units, 12 R&D centres and 30 application centres.

Samsung Electronics vice chairman Jay Lee has been a director of Fiat Chrysler’s controlling shareholder Exor since 2012. 

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Samsung Electronics and other technology units of Samsung Group are considering automotive components as a new growth driver as sales in existing businesses like smartphones are moving at a slow pace.

Last month, Samsung acquired a 1.92% stake in Chinese electric-car maker BYD for $449m.

Apart from Samsung, companies like Apple and Google are also entering into automobile sector with new products and services.

Fiat is currently working with Google on driverless vehicles. The companies are building a fleet of 100 self-driving minivans, which would not be offered for sale.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.