Samsung Electronics acquires Chantilly tech firm
TeleWorld Solutions' leadership will stay in place after acquisition.
Published
Samsung Electronics has acquired Chantilly-based network services provider TeleWorld Solutions (TWS), Samsung announced Monday.
Financial terms of the deal were not disclosed.
TWS, a privately-owned company, will operate as a wholly-owned subsidiary of Samsung Electronics America Inc. Samsung will continue to offer TWS services such as network design, installation, testing and optimization. TWS leadership will continue to manage its business.
“The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks,” Paul Kyungwhoon Cheun, executive vice president and head of networks business at Samsung Electronics, said in a statement.
The deal stems from a continued need to build additional networks as mobile usage increases.
“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,” TWS CEO Shervin Gerami said in a statement. “Joining forces with Samsung will accelerate innovation to help our customers fulfill their needs for network strategy, deployment, and automation.”
South Korea-based Samsung has invested $30 billion in the U.S. in the past 40 years and employs more than 20,000 people in the U.S.