August 10, 2016 / 11:52 PM / in a year

Samsung Electronics says to acquire U.S. appliances maker Dacor

SEOUL (Reuters) - South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire U.S.-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 4, 2016. REUTERS/Kim Hong-Ji

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 percent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp.

Reporting by Se Young Lee; Editing by Richard Pullin

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