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The Korea Herald
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THE INVESTOR
March 28, 2024

Samsung

Samsung SDS considers selling off home network systems business

  • PUBLISHED :December 09, 2016 - 17:21
  • UPDATED :December 11, 2016 - 16:28
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[THE INVESTOR] Samsung SDS, the IT solutions unit of Samsung Group, on Dec. 9 confirmed it is considering selling off its home network systems business following a news report that Ireland’s Allegion is the possible bidder.

The company didn’t further elaborate, saying nothing has been decided yet. 

Allegion declined to confirm the talks. “As a matter of policy, we do not comment on market rumors or speculation," an Allegion spokesperson told The Investor via email.

According to industry sources, Samsung SDS had continued talks with Allegion, the Dublin-based security solution developer, to sell its door lock business but the two firms are now talking about the sale of the whole business unit.

Allegion has expressed interest in taking advantage of Samsung's brand name and sales channel within the Korean market, while pinning high hopes on the firm’s home network systems in its push on Internet of Things solutions.

With the nation’s home security market soaring, global companies are eyeing profits from the lucrative business. Allegion acquired Milre Systek, the nation’s No. 1 digital door lock maker, last year.

The possible sell-off plan comes as part of Samsung SDS’ ongoing business restructuring, including the planned spin-off of its logistics business.

By Lee Ji-yoon (jylee@heraldcorp.com)

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