On 13 September 2017, during the International Motor Show in Frankfurt, Samsung, the Korean electronics giant, announced a strategic partnership with the Austrian high-tech forge TTTech for the development of technologies for safe autonomous driving. Samsung intends to invest 75+ million Euro to develop a strategic position on the exploding market for autonomous driving. The transaction requires inter alia the approval of the competition authorities and shall be closed in the year 2018.

Samsung was advised by Eisenberger & Herzog as lead counsel. Eisenberger & Herzog represented Samsung for the first time and had been recommended by Morgan Lewis, who counselled Samsung on matters relating to US-American law.

 

Advisors Samsung

Eisenberger & Herzog (Vienna):

M&A: Peter E.J. Winkler (Partner), Nidal Karaman (Partner), Peter W. Steindl (Associate)

IP/IT: Andreas Zellhofer (Partner), Helmut Liebel (Partner), Isolde Klinger (Associate), Florian Sagmeister (Associate)

Employment: Jana Eichmeyer (Partner)

Competition Law: Judith Feldner (Partner)

 

Advisors TTTech

Dorda: Martin Brodey, Bernhard Rieder, Jürgen Kittel, Heinrich Kühnert

GASSAUER-FLEISSNER: Jakob Bleckmann

 

About Samsung

Since its founding in Suwon, Korea in 1969, Samsung Electronics has grown into a global information technology leader, managing more than 200 subsidiaries around the world. The company’s offerings include key mobile telecommunications products like smartphones and tablets as well as home appliances such as TVs, monitors, refrigerators, and washing machines. Samsung pledges to create and deliver quality products and services that enhance convenience and foster smarter lifestyles for its customers around the world. Samsung is dedicated to improving the global community through its constant pursuit of groundbreaking innovations and value creation.

www.samsung.com

 

About Eisenberger & Herzog

Eisenberger & Herzog is an international business law firm with more than 70 lawyers in Vienna, Graz and Klagenfurt. In 2015, the law firm won numerous prestigious awards and won international prizes “Austrian Law Firm of the Year” (“Chambers & Partners”) and “Law Firm of the Year” (Juve).

www.ehlaw.at

 

Press commentaries on the deal

https://www.ft.com/content/7b6e43a6-131f-310f-b8da-c32f027171b6

http://www.samsung.com/at/news/corporate/samsung-und-tttech/ (German)

https://techcrunch.com/2017/09/14/samsung-launches-300m-autonomous-driving-fund-puts-90m-into-tttech/

http://evertiq.com/news/42554

http://diepresse.com/home/wirtschaft/unternehmen/5285329/Samsung-steigt-bei-Wiener-TTTech-ein (German)

http://derstandard.at/2000064103394/Autonomes-Fahren-Wiener-TTTech-bekommt-von-Samsung-75-Mio-Euro (German)

https://kurier.at/wirtschaft/75-millionen-euro-investition-samsung-steigt-bei-tttech-ein/286.158.829 (German)

https://www.trend.at/wirtschaft/samsung-millionen-euro-wiener-tttechro-8310901 (German)

 

Please find the PDF of the press release here.