Samsung Electronics has bought US-based LED sign and display manufacturer Yesco Electronics, in a move to enter into the LED display market.
Yesco Electronics was a unit of Young Electric Sign Company and makes high quality electronic displays. The acquisition will extend Samsung‘s reach beyond large-format displays (LFDs) using LCD panels.
Samsung currently operates a display making unit which manufactures screens for TVs and smartphones, with the majority of liquid crystal display screens lit by LED lights.
Samsung Electronics Visual Display Business senior vice president Seog-Gi Kim said, "As the market for LED display technology continues to grow, we understood the critical importance of having the right experience to be successful in this area.
"By combining the extensive expertise of YESCO Electronics in LED displays with our global network, business experience and world-class R&D team, we further validate our leading position and the value that we bring to our customers as a total solutions provider in digital display."
Following the deal, Samsung will work with Yesco to make durable, long-lasting displays which can be used in varied and extreme conditions.
Yesco has expertise in making large sign and displays to markets like retail, education, hospitality, corporate, and transportation sector, which Samsung is already serving.
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Yesco Electronics CEO John Williams said, "The solid relationship between Samsung and YESCO will strengthen YESCO’s position in the marketplace.
"This acquisition expands the presence of our services and systems across Samsung’s vast global network, allowing a wider range of businesses to offer their customers a more impressive, eye-catching visual experience. YESCO Electronics will offer a broader range of world-class products to the customers as part of the Samsung Team."
Both the companies have not disclosed the financial details of the deal.
