By Hyunjoo Jin and Joyce Lee
SEOUL (Reuters) – Samsung Electronics became the largest shareholder of South Korea’s Rainbow Robotics, the robotics company said in a regulatory filing on Tuesday.
Samsung, which had previously invested in the robotics company, newly took a 267 billion won ($181 million) stake, the filing said.
With the acquisition, Samsung is also establishing a Future Robotics Office reporting directly to the CEO, the tech giant said in a separate statement.
Prior to the deal, Samsung Electronics was the second-biggest shareholder of Rainbow Robotics, holding a 14.71% stake, or about 2.85 million shares, in the company.
Previously, the largest shareholder was the firm’s founder Oh Jun-ho and associated entities.
(Reporting by Joyce Lee and Hyunjoo Jin; Editing by Chris Reese)
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