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Adam Bannister is a contributor to IFSEC Global, having been in the role of Editor from 2014 through to November 2019. Adam also had stints as a journalist at cybersecurity publication, The Daily Swig, and as Managing Editor at Dynamis Online Media Group.
November 27, 2014

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Samsung Techwin Controlling Stake Sold to Hanwha Group

samsung hqThe controlling shareholders of Samsung Techwin, Samsung Electronics, Samsung C&T and other Samsung Group affiliates have sold their controlling stake to Hanwha Group.

Subject to approval from antitrust regulatory authorities in relevant jurisdictions the transaction is expected to complete during the first half of 2015.

Hanwha Group, which was founded in South Korea in 1952, operates in a broad spectrum of industries including manufacturing, construction, finance, services, and leisure. In 2013 the group posted total revenue of $35bn with its assets valued at more than $117bn.

Samsung Techwin is a prominent player in access control and intruder detection, protecting cities, airports, seaports, industrial areas and military installations.

At IFSEC 2014 the South Korean company showcased its latest generation of zero configuration WiseNetIII IP video surveillance cameras and ‘plug & play’ network recording devices.

“Hanwha Group’s investment in Samsung Techwin will enable us to continue research, design, and development of innovative market leading solutions that will create new business opportunities and ensure our future growth,” says Jong Wan Lim, managing director of the security solution for Samsung Techwin Europe Ltd.

“Customers can be assured that it is ‘business as usual’ and that there will be absolutely no disruption to the supply of products or to the normal high levels of pre and post sales support that customers have come to expect from Samsung Techwin.”

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