In this article
Shares of Samsung SDS surged as much as 21.3% on Wednesday after global private equity firm KKR agreed to invest 1.22 trillion won ($820 million) of newly issued convertible bonds from the South Korean IT solutions and logistics provider.
The deal comes as technology companies ramp up spending on AI infrastructure and digital transformation, with Samsung SDS positioning itself to capture surging demand for artificial intelligence services.
Samsung SDS, part of Samsung Group and affiliate of Samsung Electronics, said in a statement that KKR will advise on mergers and acquisitions, capital allocation, artificial intelligence offerings and global expansion.
“Through this strategic collaboration, we will actively explore a wide range of growth opportunities, including M&A by leveraging KKR’s expertise accumulated in global capital markets,” Jun Hee Lee, President and CEO of Samsung SDS, said.
