December 15, 2009

Samsung Electronics to join with Samsung Digital Imaging in corporate realignment

Samsung Electronics to join with Samsung Digital Imaging in corporate realignmentSEOUL, Korea (AVING) — Samsung Electronics today announced it is seeking to merge with Samsung Digital Imaging as part of a move to become a global leader in the digital camera business. The merger, expected to be signed on Jan. 22, 2010, will go into effect from April 1, 2010, once the transaction is approved at the shareholders meeting, according to a resolution made after a board of directors meeting on Dec. 15.

Under the agreement, the Samsung Digital Imaging will be absorbed into Samsung Electronics, as a business unit responsible for digital cameras, camcorders, and optical devices. The merger ratio of the two companies is to be Samsung Electronics: Samsung Digital Imaging = 1:0.0577663.

The union will enable the digital imaging business to u…

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