SEOUL, Jan 31 (Reuters) - South Korea’s Samsung Electronics Co Ltd said on Saturday that it would acquire Brazilian printing solutions company Simpress, the latest deal by the tech giant to bolster its business-to-business operations.
The acquisition comes as Samsung searches for ways to stabilise earnings. The maker of Galaxy smartphones reported its first annual profit decline in three years as contributions from its erstwhile cashcow mobile division fell sharply.
One of the tech giant’s responses to the uncertain smartphone outlook has been making acquisitions to strengthen its business offerings for corporate clients.
Samsung in November acquired U.S. based server-side caching software company Proximal Data. The Korean firm also acquired U.S.-based Quietside, distributor of heating, ventilation and air conditioning products, and Canadian mobile printing solutions company PrinterOn.
A Samsung spokeswoman declined to comment on how much the firm is paying to acquire Simpress. (Reporting by Se Young Lee; Editing by Jeremy Laurence)