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).