Samsung wants to spend 3 billion US dollars to buy Fiat's parts maker

According to foreign media reports, Samsung Electronics is conducting in-depth negotiations with Magneti Marelli, an auto parts manufacturer under Fiat Chrysler. Samsung Electronics is particularly interested in its in-vehicle communications systems, lighting, and automotive entertainment businesses. Sources said that Samsung will consider the overall acquisition of Marelli. If the negotiations are successful, the deal will exceed 3 billion U.S. dollars, making Samsung the largest M&A deal in overseas history.

At present, Samsung Electronics has started selling some of its assets to reduce the size of its group and has begun to lay out other potential new product lines as a result of the downturn in Samsung’s smartphone business, thus reducing the company’s reliance on consumer electronics.

In May of this year, Fiat and Google reached a cooperation agreement on self-driving cars. This is Google’s first in-depth cooperation with major vehicle manufacturers. At the same time, recently, Apple, Uber, Baidu and other technology companies are looking to the automotive market, Samsung naturally do not want to miss this wave. Last December, Samsung established an R&D team for automotive parts, automotive entertainment, and autonomous driving. Last week, Samsung acquired about 2% of BYD’s shares for RMB 3 billion, which is intended to enter the field of electric vehicles and enter the lithium battery market. BYD said that both parties will also cooperate in the field of electric vehicle parts and components.

In fact, since 2012, the vice president of Samsung Electronics Co., Ltd. has been holding the position of chairman of Fiat Holdings' Exor SpA. Fiat CEO Sergio Marchionne mentioned in a conference call that the company is currently seeking opportunities to cooperate with other technology companies. The current auto industry is spending too much money and needs to introduce new technologies to improve the financial status of the company. Interestingly, Marchionne submitted a merger proposal to General Motors in 2015 but was rejected by General Motors. In April of this year, Marchionne said that he will sell Marelli for financial reasons.

Because of Marelli's years of experience in satellite navigation, connectivity, infotainment, and telematics systems, the company's products have the major advantage of being able to better connect the car to external electronic devices. Its telematics equipment enables onboard systems to access specific services, including insurance, parking, and theft security.

This is undoubtedly a very important opportunity for Samsung, which is laying out automotive R&D. According to external sources, if this acquisition can be completed, Samsung will quickly accelerate the pace of its entry into the automotive industry.

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