Seoul, March 5 : South Korea’s antitrust regulator approved Samsung Electronics’ acquisition of local robotics startup Rainbow Robotics on Wednesday as part of its business diversification strategy.
The approval by the Fair Trade Commission (FTC) comes two months after the tech giant submitted the acquisition of the startup for a review.
The regulator said it made the decision as it saw little chance of a monopoly resulting from the deal, reports Yonhap news agency.
In December, Samsung Electronics said it will become the largest shareholder in Rainbow Robotics as part of its push for advancing robotics technologies, such as humanoid robots.
The company currently owns a 35 percent stake in Rainbow Robotics. It invested 86.8 billion won (US$59 million) in the startup in 2023.
Rainbow Robotics was founded in 2011 by researchers from the Korea Advanced Institute of Science & Technology, or KAIST’s Humanoid Robot Research Center, who developed the country’s first two-legged walking robot, Hubo.
Samsung Electronics expects a combination of its artificial intelligence (AI) and software technology and the robotics firm’s expertise will accelerate the development of intelligent, advanced humanoids.
Meanwhile, Han Jong-hee, co-CEO and vice chairman of Samsung Electronics, in January expressed optimism about the company’s performance prospect for 2025, driven by artificial intelligence-led innovations.
He underscored the role of AI-powered solutions in driving growth, adding, “I believe that AI will serve as a momentum for recovery.” Han noted that AI is a key factor in Samsung Electronics’ future strategy, as its AI-driven vision focuses on the integration of smart technologies across its product ecosystem.
Its SmartThings platform is at the centre of this strategy, offering seamless connectivity between Samsung devices and creating a unified, intelligent ecosystem for homes and other spaces.
“We have diversified lineups of mobile phones, home appliances, electronic components and TVs. And all these are consumer goods,” he said. “Samsung is the only company that has this wide variety of product portfolio. Connectivity is a key.” (IANS)