Samsung Electronics Now Major Shareholder in Rainbow Robotics

Samsung Electronics has become the majority shareholder of Rainbow Robotics, a South Korean robotics company, according to a regulatory filing from Rainbow Robotics, reports Reuters.

Samsung acquired a 267 billion won ($181 million) stake in the company, bringing its total ownership to a controlling interest.

This move builds upon Samsung's existing investment in Rainbow Robotics, where it previously held a 14.71% stake, representing about 2.85 million shares.

Prior to this acquisition, the largest shareholder in Rainbow Robotics was the company's founder, Oh Jun-ho, and associated entities.

Samsung's significant investment comes as it establishes a "Future Robotics Office" that will report directly to the company's CEO.

This strategic move emphasizes Samsung's commitment to robotics, a key area of technological innovation.