Samsung acquires German HVAC giant for US$ 1.7 bil.

Samsung Electronics has sealed a deal to acquire Germany's FläktGroup for some 1-point-7 billion U.S. dollars.

Founded in 1918 FläktGroup is a leading heating and cooling solutions provider.

The acquisition comes amid growing calls for energy-efficient approaches to addressing indoor air temperature and quality in light of the global push for greener solutions.

This is Samsung's biggest acquisition since its 8 billion dollar purchase of Harman International in 2017.