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Samsung buys network services provider TeleWorld Solutions

Samsung Electronics Co. Ltd. acquired network services provider TeleWorld Solutions Inc. for an undisclosed sum.

Samsung Electronics Executive Vice President and Head of Networks Business Paul Kyungwhoon Cheun said the transaction will allow the company to improve its 4G and 5G networks.

Under the agreement, TeleWorld Solutions will be a wholly owned subsidiary of Samsung Electronics America Inc. while serving its current clients.

South Korea-based Samsung Group's Samsung Electronics Co. Ltd. owns Samsung Electronics America.