Partnerships / Acquisitions

Samsung Snatches Up TeleWorld To Enhance 5G Offerings

Samsung, Teleworld, TWS, 5G, radio frequency, (RF), original equipment manufacturers, (OEMs), end-to-end support, newds

Samsung Electronics is acquiring network services provider TeleWorld Solutions (TWS) to build out the next generation of wireless, TechCrunch reported Monday (Jan. 13).

“The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks, and eventually create new opportunities to enhance our service capabilities to our customers,” said Paul Kyungwhoon Cheun, Samsung executive vice president and head of networks business, in a press release. “Samsung will continue to drive innovation in communications technology while providing optimization services for network deployments that accelerate U.S. 5G network expansion.”

Under the deal, TWS becomes a wholly-owned subsidiary of Samsung, while enabling it to service existing clients as 5G becomes an increasing focus beyond just smartphone connectivity.

Virginia-based TWS specializes in radio frequency (RF), network design services, installation, testing and optimization for original equipment manufacturers (OEMs) and other companies across the U.S. With 5G advancing in the U.S., the acquisition — which also provides mobile services — will address the need for end-to-end support in delivering network solutions.

“Everyone at TeleWorld Solutions is excited to be part of the Samsung family,” said Shervin Gerami, CEO of TeleWorld Solutions. “The advent of 5G and the amount of new spectrum coming into the U.S. market requires scale and innovation for the next generation of wireless technologies. Joining forces with Samsung will accelerate innovation to help our customers fulfill their needs for network strategy, deployment and automation.”

TWS will complement Samsung’s growth among network infrastructure clients. The TWS leadership team will continue to manage the business and, together with Samsung, address the network upgrade cycle occurring in the U.S.

In other Samsung news, the cross-border payments market is huge as people across the globe send money back and forth. Samsung announced in October that it partnered with Finablr to enable U.S. customers of Samsung Pay to send cross-border payments to 47 countries via Samsung’s digital wallet.

——————————–

Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

TRENDING RIGHT NOW