Samsung Elec unit Harman to acquire ZF Group's ADAS business for 1.5 bln euros

SEOUL, Dec 23 (Reuters) - Samsung Electronics 005930.KS said on Tuesday its unit Harman International has agreed to acquire German automotive supplier ZF Friedrichshafen's advanced driver assistance system (ADAS) business for 1.5 billion euros ($1.77 billion).

Samsung said the deal will allow Harman to secure ADAS-related technologies and products, including front-facing vehicle cameras and ADAS controllers, marking a full-scale entry into the fast-growing ADAS market.

The company said the market for ADAS and central vehicle controllers is expected to expand in size from 62.6 trillion won ($42.18 billion) in 2025 to 97.4 trillion won in 2030.

($1 = 1,484.1500 won)

($1 = 0.8495 euros)