Samsung has announced the completion of an agreement for it to acquire TeleWorld Solutions (TWS), a Virginian network solutions provider. The Korean firm is hoping that the purchase will help speed up the expansion of the 5G network across the United States.
Under the deal, TWS will operate as a wholly-owned subsidiary of Samsung Electronics America. With the purchase, Samsung will gain expertise in designing, testing, and optimizing services for mobile services, cable operators, and equipment OEMs. The firm will continue to provide services for existing customers and its current leadership team will continue to run operations too.
Commenting on the deal, Paul Kyungwhoon Cheun, said:
“The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks, and eventually create new opportunities to enhance our service capabilities to our customers. Samsung will continue to drive innovation in communications technology while providing optimization services for network deployments that accelerate U.S. 5G network expansion.”
With Samsung’s financial clout and TeleWorld’s expertise, they'll be able to more quickly develop 5G technologies so that carriers can purchase and rollout solutions. As an end result, the acquisition will see 5G connectivity in more areas in a shorter space of time.