Samsung Elec unit Harman to acquire ZF Group's ADAS business for 1.5 billion euros

Samsung Electronics said on Tuesday its unit Harman International has agreed to acquire German automotive supplier ZF Friedrichshafen's advanced driver assistance system (ADAS) business for 1.5 billion euros ($1.77 billion).

Samsung said the deal will allow Harman to secure ADAS-related technologies and products, including front-facing vehicle cameras and ADAS controllers, marking a full-scale entry into the fast-growing ADAS market.

The company said the market for ADAS and central vehicle controllers is expected to expand in size from 62.6 trillion won ($42.18 billion) in 2025 to 97.4 trillion won in 2030.

-Heekyong Yang/Reuters