Samsung Electronics has made an announcement that it has acquired Zhilabs, a Spanish network analysis firm. The announcement was made public on Wednesday. The acquisition will pave the way for Samsung to roll out 5G mobile services and other connected devices which require a fast internet connection.
The financial terms of the acquisition were not disclosed by any of the companies. Earlier in August, Samsung Group has allotted $22.23B investment in different fields such as AI (artificial intelligence), biopharmaceuticals, 5G and electronic components for automobiles. Since then, the acquisition of the Spanish company is a major tech deal for Samsung.
According to Samsung, Zhilabs utilizes AI to examine network data. It will help Samsung to launch 5G gears, as it uses an automated network analytics tool for speeding up the internet. The company will further explore and make investments in new business opportunities powered by upcoming technologies.
According to Young Kim, President of Samsung Electronics, in the generation of exponential data service, 5G will provide a good network service for users. To establish that, automated and intelligent network tools are vital. The new acquisition will help the company to fulfill the demands of the subscribers in the best possible way.
Zhilabs was established in 2008. The company specializes in analyzing the problems related to performance, network condition, and data traffic. It provides service to more than 50 telecom companies.
After the acquisition, Zhilabs will be fully owned by Samsung but will continue to run under its own team.