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Samsung Electronics to acquire AI-powered network analytics provider

Samsung Electronics Co. Ltd. will acquire ZhiLabs SL, a provider of AI-powered network analytics, for an undisclosed amount.

The South Korean conglomerate said the acquisition will help improve its 5G offerings of automation and network analytics.

Zhilabs will continue to operate independently from Samsung Electronics after the acquisition.

In August, Samsung said it plans to invest about 25 trillion South Korean won over the next three years in AI, 5G, automotive electronics components and biopharmaceuticals.

As of Oct. 16, US$1 was equivalent to 1,123.30 South Korean won.