The Samsung logo is displayed at the company's headquarters on December 11, 2012 in Seoul, South Korea.
Chung Sung-Jun/ Getty Images
By Reuters
August 11, 2016

South Korean tech giant Samsung Electronics (ssnlf) said on Thursday it will acquire U.S.-based luxury appliances maker Dacor, seeking to boost high-end product sales.

Samsung said in a statement it will keep Dacor’s brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid $150 million to buy the California-based company.

Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7% market share, beating out rivals such as LG Electronics and Whirlpool (whr).

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