After recently acquiring Bowers & Wilkins and other audio brands for $300 million, Samsung has announced that it has acquired the global Heating, Ventilation, and Air Conditioning (HVAC) firm FläktGroup. It is a Germany-based company that focuses on data centers and enterprises.

Samsung Electronics has acquired FläktGroup for €1.5 billion (~$1.68 billion). It is the company's second-biggest acquisition after the $8 billion takeover of Harman International back in 2016. The South Korean firm has signed the European investment firm Triton for completing the take over pending approvals.

Thanks to the explosive growth in the AI market, the demand for massive data centers is rising rapidly. And with its new acquisition, Samsung is targeting the growing data center market to strengthen its existing HVAC business.

FläktGroup is based out of Herne, Germany, and has over 100 years of accumulated experience in the HVAC segment. It supplies highly efficient and reliable cooling solutions for a wide range of buildings, including airports, data centers, hospitals, libraries, and museums. It has over 60 large customers, including biotech, food and beverages, and pharmaceutical brands.

The German firm has made notable improvements in its revenue over the past three years. It also won the DCS Cooling Innovation of the Year Award at the DCS Cooling Awards. Samsung will invest in FläktGroup to grow its business reach. It could add FläktGroup's solutions to its SmartThings Pro and b.IoT platforms.

TM Roh, the Head of Samsung Electronics Device eXperience (DX) Division, said, “Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers. Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.“